It's a bit like saying Google didn't "ban" Fortnite from Android because you can still access the app thru sideloading. Ultimately if it walks like a duck, quacks like a duck and talks like a duck, it's a duck.
It's definitely banned from the App Store, and any other US business. Just not from the country, because I agree that would be a violation of US citizens' rights (Not TikTok's. They're a foreign company, not a US citizen.) and therefore unconstitutional.
