The aspect I believe you're missing is that any Chinese company with over 50 employees is not a legitimate private company because the CCP essentially claims ow

The aspect I believe you're missing is that any Chinese company with over 50 employees is not a legitimate private company because the CCP essentially claims ownership over them. This means ByteDance is essentially state run and makes the national security risk a legitimate concern. I believe the national security risk argument is stronger in the case of Huawei. Since having a state run company build essential communication infrastructure is clearly a bad idea. However, I think it also applies to ByteDance. Why would you allow a foreign government uninhibited access to huge amounts of data about your citizens? Especially when that government is a hostile totalitarian regime currently engaged in serious human rights violations.