Can someone boil down this "printing Tethers out of thin air" from Bitfinex issue for me?  I understand there is real concern about this, but what is Bitfinex's side of the story?

Can some of this be legitimate (on Bitfinex's side)?

If I opened an account there right now for example, and I deposited $5,000 in USD, would they then convert that to Tether and give me $5,000 Tether instead?

So them "printing Tethers out of thin air" can some/most/all/a little of it be money from actual customers?