What the difference between a spy balloon and a spy satellite?
Atmosphere.
The balloon would be more of a weapon than a spy apparatus because it's in our atmosphere.
A satellite can do everything a balloon can do in the spy world except acoustics unless using a laser.
Using a laser from space can be detected and said satellite would hopefully be blown to bits and would be seen as an act of war.
If we gain proof that the balloon is a weapon, it would be seen as an act of war.
The CCP will not risk an act of war with the U.S.
The CCP is a paper tiger, otherwise they would of tried to take back Taiwan two years ago.
I say tried because the CCP would of gotten their ass kicked.