yeah, people are way too overhyped on her. she's a good athlete and as you said it's funny to see everyone having a meltdown over it, but it's probably the biggest neolib maneuver ever. she correctly sees the US as a sinking ship and China as an emerging giant and wants to build her brand in the most effective way possible.
this is the kinda shit that China needs to root out in the coming decades or else they risk having a population that does not care about people but only their treats.

china does not allow dual nationalities. she recently gave up her american citizenship.