Snapchat, the ephemeral camera application is cited by some analysts as a potential contender to replace the short video forms Chinese platform TikTok, now that the US Congress members are openly discussing banning TikTok usage.
Yes, Snapchat owned by Snap Inc did make large inroads into social media and videos and photographs.
That said, however, Snapchat could not on several occasions live up to the expectations and become a 300 billion USD in market capitalisation company, on par or to rival Meta Inc, Facebook's owner.
I do not know if management, products or just timing is the reason, but I would say the chance of Snapchat fully replacing TikTok is circa 30 %, a personal opinion.
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