Sure, if you assume their "political enemies" are the Republicans. Rather than assume incompetence; because, you're right, this is a pretty glaring oversight that only bumbling incompetence could begin to explain away; you could make a much more fitting assessment with the "political enemy" being the working class.
That is who this law is being wielded against, the only ones who were ever threatened by it, along with being completely disempowered to abuse it against the ruling class who passed it. Those are the enemies that fit your description.
I've yet to see a convincing explanation of why China would even be interested in this data... what good would it even be to them?
We know American tech, media giants, and government contractors and agencies use it for profit and domestic control but, even if you believe China is just as much of a dystopian capitalist surveillance-state as the USA, what profit is there for Chinese capitalists to extract from American data that they can't already extract much more efficiently through American data brokers? As for the government end, is the interest in having control over Americans in American territory even comparable to that of the American government? It's not like the vast majority of the data would even be actionable or relevant to the Chinese government.
It just doesn't make sense for Chinese capitalists/government to be even a fraction as aggressive in surveilling Americans as their American counterparts. It seems more like a distraction to me and an excuse to avoid talking about American surveillance being every bit as bad as you imagine Chinese surveillance to be.
As for being the "largest exporters in the global market", if the profit was all that enticing on a private scale, the US capitalist class certainly could have chosen to compete with China in that avenue. They chose to boost their short term profits by deindustrializating instead. What does that tell you?