Yeah this caught my attention too. The balloon story completely dominated the news cycle for days and then the second it gets shot down everyone moves on, but meanwhile East Palestine is still burning and the chemical plume is spreading and nobody in mainstream media seems that bothered.
Not saying one was staged to distract from the other, but the timing is hard to ignore. The balloon story was tailor made for outrage and distraction - big visible object, political point scoring, China bad narrative ready to go. Much easier to cover than an ongoing environmental disaster that raises awkward questions about rail company lobbying and safety deregulation.
What I find interesting is how the two stories required completely different types of public attention. One needed people looking up, the other needed people looking at the ground. Anyone else been following the long term health reports from the Ohio residents? That seems like the story that actually matters here.