The policy states:
“We may collect information about the images and audio that are a part of your User Content, such as identifying the objects and scenery that appear, the existence and location within an image of face and body features and attributes, the nature of the audio, and the text of the words spoken in your User Content. We may collect this information to enable special video effects, for content moderation, for demographic classification, for content and ad recommendations, and for other non-personally-identifying operations.”
As is often the case with privacy policies, there’s a lot of conflation here between outcomes that users are probably fine with (like adding video effects) and outcomes they might think are more invasive (like ad targeting and “demographic classification.”) There’s also a lot of broad language used in order to cover any future updates TikTok might add to the platform.
There’s more information, yes, but still not a lot of clarity. For an app that has struggled with various privacy issues (the perception of which is often exacerbated by political paranoia), it seems there’s more work yet to do.