USDT will never be able to collapse because basically this coin has a very important role in the crypto market, and almost all exchanges have this trading pair. There are many allegations about Tether but this stable coin still stands in the market, and no one is disappointed to use. If USDT disappears then perhaps everyone in this market will lose money because Bitcoin and USDT are often interlinked and will be very unlikely.
As far as I know, Tether has even the ability to seize your funds if they consider it's reasonable to do so. An USDT collapse is actually a higher chance than a bank collapse imo - and banks do collapse every now and then.

The stablecoin still stands in the market because who the hell wouldn't sustain their own coin and print as many gazillions of USD out of literally thin air? I personally wouldn't put my trust in it at all. If you are basing your trust in USDT solely from the fact that it's been out here and used for many years, I think it's a quite silly hope for something that doesn't even have proper fiat backing proof.