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It's not too bad like what you say. A stable coin will give a profit where the price of other coins drop.
Stable coins do not provide profit if the price of other coins is increasing.
For example:
1 ETH = 230 USDT
If the ETH price drops -10%
230 x 10/100 = 23
Then the stable coin holder has made a $ 23 profit.
And if they repurchase ETH,
$ 230 + $ 23 = $ 253
1 ETH + 0.1 ETH = 1.1 ETH
Well, this will be the opposite if the price of Ethereum rises.
This will only be applicable if ETH grows back, but in a situation where the price of ETH keeps dumping and you buy back with your USDT, thinking that it has reached its base, then if care is not taken, you would have joined the train of loss. Well, I think USDT will mainly help you to fix the value of your holdings and you could buy back and at the sea time be fortunate to make some profits from another upsurge.