Yes and no. It’s backed by the Chinese government and pretty much mandatory for living in, working in China. For example, taxes are done with a WeChat mini-app, companies use only WeChat to communicate (email is rare now). During Covid, you could only get tested by using a WeChat mini-app to register, and no testing meant no life. You can’t cross into or out of China without using a Wechat mini-app to generate a qr code that they scan at the border. etc etc.

It doesn’t do ride-hailing. Didi does that. But WeChat does just about everything else. Oh, and all similar non-Chinese apps are blocked.