I think we’re where China was in 2005–2010: a platform that can (and does) promote values that are against the interests of our nation(s) is popular with our youth. The real dilemma is “can we do better”, and these days it seems not.
History suggests that the real solution to TikTok isn’t banning it; China trying to block western sites did nothing save foment resentment and foster a VPN industry. Take the next step instead - make something that does TikTok better than TikTok, then push it hard. Either that or do what is being done to YouTube/Google - run it into the ground!