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This is well timed considering the TikTok ban timeline. Loops will have enough time to sort out any bugs or issues right now with a slow trickle of traffic and then probably grow exponentially in the power vacuum left behind when TikTok vanishes from the various app stores.
I don’t think Loops will have the addicting effect like TikTok, which is a good thing, but I feel like that’s what most people want.