More on why possibly the balloon:
The flight itself, he said, could be used to test America’s ability to detect incoming threats and to find holes in the country’s air defense warning system. It may also have allowed the Chinese to sense electromagnetic emissions that higher-altitude satellites cannot detect, such as low-power radio frequencies that could help them understand how different U.S. weapons systems communicate.
And why supposedly it wouldn't necessarily be shot down immidiately:
As for intelligence value, the U.S. officials said the balloon’s voyage across the U.S. gave experts several days to analyze it, gather technical data, and learn a lot about what it was doing, how it was doing it and why China may be using things like this. They declined to provide details, but said they expect to learn more as they gather and scrutinize the debris.
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