Tether was fine until some exchanges like Kraken hate it. Tether to the moon! I expect a Tether pump soon.
If tether pumps then it is a failed coin.
The whole idea is for it to have parity with USD. And divergence from that and it is not serving its purpose.
I agree with your thoughts, tether should be able to defeat ethereum if it has in common with the USD, but this does not and will never grow higher than ethereum