The Chinese have like 500 satellites in space. This doesn't count the information they probably get from the Soviets and what they can gain through espionage and trips to Mara Largo, Delaware etc...
The balloon is not a concern.
What should concern folks is this. If the balloon flew over the states that border Montana undetected...that is pretty bad. If it came from Canada and they didn't tell us/didn't know about it...that is pretty bad too. I doubt it got past our monitors. If so, we have a stunning hole in our defense system. My feeling/hope is that the guys and gals at NORAD/The Pentagon knew about it and just hopped nobody would notice it via cloud cover or whatever. I'm more disappointed that they thought it would go unnoticed