The law is to force any company that isn't US owned that the US doesn't like to hand over ownership. Regardless of your thoughts on TikTok/ByteDance/China in general, this is not a law one should praise. It's incredibly dangerous and is one more step toward the US becoming a full-fledged fascist state.
Same as RadioFreeAsia which is the only source for all those weird North Korea articles, like "Kim Jong-Un says NK found a Unicorn!" Or "All NK boys have to get the same haircut!"
I could've sworn I've seen almost an identical comic strip like this a decade ago