I feel like this makes sense for a platform that targets teens. Plus, I wouldn't trust TikTok to implement E2E encryption properly—who knows what they've snuck into their client.
What kind of application is not targeted at both teens and adults?
Youtube, twitter, bluesky, whatsapp? Every app with a social aspect will be used by teens. And no, tiktok is not "only for teens" or "specially targeted at teens", nowadays everyone uses it and creates content on it.
I think it's very safe to assume that no major US based platform has 'real' E2E encryption. They're almost certainly all a part of PRISM by now, and it'd contradict their obligations to enable government surveillance. So the only thing that's different is not lying about it. Though I expect the other platforms are, like when denying they were part of PRISM, telling half truths and just being intentionally misleading. 'We provide complete E2E encryption [using deterministically generated keys which can be recreated on demand].'