Your point seems to hinge on: IF the US became as bad as the CCP, it would force companies to hand over all their data anyways.
But a government like the US isn't a singular entity. There are all sorts of good, bad, and neutral actors within it. If you hand the government your data now those bad actors can abuse it now, rather than some hypothetical future where the US becomes an extreme authoritarian dictatorship.
But a government like the US isn't a singular entity. There are all sorts of good, bad, and neutral actors within it. If you hand the government your data now those bad actors can abuse it now, rather than some hypothetical future where the US becomes an extreme authoritarian dictatorship.