I agree with you. The reputation of Tether has deteriorated, and the coin of this project can become a worthy competitor, especially since it is backed by ethereum.
There are a lot of stable coins but a lot of traders prefer to use Tether because Tether has the most developed ecosystem and Tether is traded on all exchanges.
In my opinion, the fact that he trades on all exchanges is his dignity. I think that more worthy stable coins will appear.