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It Appears Users Are Getting Bored With TikTok
(www.techdirt.com)
This is a most excellent place for technology news and articles.
While I agree - the part you're missing is the vast majority of TikTok users are outside the United States.
TikTok doesn't want to sell. They want some sort of "independent" subsidiary where ByteDance still profits from (and controls) TikTok and the subsidiary worries about compliance with US law. But the thing is, that's already the current structure.
I wouldn't be surprised if they refuse to sell and wind up being banned. ByteDance doesn't want to lose all their US customers, but they'd likely prefer that to selling.
Then they can decide that it would be better to not serve the United States users and keep the "vast majority" of their userbase as-is