I feel like the TikTok ban is only the start.
The US is pissed that it couldn't 100% control the narrative on Israel genociding Palestine and sees the internet as the reason why. They've already put a lot of effort into homogenising and controlling the narrative on most big social media sites. I wouldn't be surprised if they started cracking down more under the guise of "stopping misinformation"
Add in the extensive self-censorship people are doing (unalived) because they don't know what will get them in trouble with the platforms. Now that I think about it I'm kind of surprised I don't recall hearing "Chilling effect" recently.