By giving the President the power to ban websites, not just apps, it opens up a whole new can of worms.
Instead of targeting foreign adversaries directly, the law holds US (or offshore) internet hosting services and app stores responsible for any breaches in security or privacy.
This is a Trojan horse that could lead to censorship and control over what people access online.
They will not use this against their masters. They will use this to serve them. Shut down competition and control the narrative to serve capitalism.