I find that unlikely, they can already trickle fake accounts slowly and unlike the new influx these sockpuppets will need to speak Chinese in order to influence the intended users.

I think this is just a failed attempt to isolate China and protect their national social media bourgeoisie (consider most tech giants are in the social media market), as well as backlash for the moderation not being in line with the State Dept, letting things like student occupations for divestment go viral. I at least have not seen almost anything about those occupations on US platforms.