Eminent domain is a thing. You can absolutely be forced to sell your house to make way for a public project. Hell, after the Kelo decision, you can even be forced to sell it for private benefit.
So going by your own example, if the government tells you "sell your house or we are going to seize it via eminent domain", are you not allowed to say "the government is using eminent domain to take my house from me"? Now replace "eminent domain" with "ban" and "house" with "TikTok".
No, because they're not banning TikTok, nor is eminent domain anything like arson.
The only similarity between condemnation and arson is that you don't get to live in the house anymore. If your house is condemned and you get fair market value for it, you can buy a new house with it. If your house is burned to the ground, you have nothing.
Similarly, if ByteDance sells TikTok to someone else, TikTok can be to its users exactly how it has been all along. They've simply chosen not to, at least not yet. And it's in their best interest to characterize it as a ban to win hearts and minds, even though that characterization of "banning" is something they're choosing to do to themselves by shutting it down instead of selling.