Yes but it matters for how the law is capable of being enforced. The EU does not have as much leverage over entities that have no legal presence there. This is not a value judgment, it is just descriptive.
The EU has no jurisdiction whatsoever over a service outside its borders. It can ban various apps and then penalize its citizens for using them (or just block them) but it can't dictate to companies in other countries what they can put on the internet.
In the extreme case, consider that Tencent and other Chinese companies with social media platforms are required by law to collect user information that violates the GDPR. Do you think they'll follow the laws of their own country where the business is based or EU regulations?