I think it's the best thing since Bitcoin because I can use it to save my altcoins when shit start hitting the fan and then buy them when they are low, while Tether pretty much never moves from $1.
Now from my understanding people don't like it because an exchange created this coin and it can be made out of nothing?
But I'm not sure about this.
Any input?
You already answer your question. First, it is not considered as cryptocurrency and the fact that it is created by nothing, they can accumulate bitcoin out of nothing. Since bitcoin is not regulated, they are free to do that.