I don't have a dog in this fight because, as a strictly recreational pilot, I shoot an occasional video and edit it only for my own edification. Most, if not all of it, is admittedly pretty mundane. I plan to continue using CapCut because 1) it works for me, 2) I'm too old and lazy to learn new tricks, and 3) I don't perceive much of a threat.
But, for the rest of you, CapCut's revised terms of service could be a matter of great concern. No doubt its developers/owners will have an army of employees sifting through all of the videos that you folks process in hopes of finding some snippets they can appropriate for themselves and exploit monetarily without your consent. No doubt CapCut also has another army of employees searching every conceivable social media site looking for edited content that you may originate and unwittingly post or share with a client in violation of its nefarious "contract." You may want to retain lawyers to handle all of the copyright infringement suits they file against you as a result of those searches.
This is such a big deal that Shakespeare wrote a play about it: Much Ado About Nothing.