That is my opinion on this matter also. I have the feeling that USDT is not totally backed with US dollars. When they admitted before that they are not fully backed, I have the feeling, that they are not always saying the absolute truth about their assets. So just be careful holding long term this stable coin.
We are hearing the complaints for a long time and even during the last rally there were doubts raised about the number of coins they mint every week and there was no clarity on their backing and the details and then the truth was revealed later that they are not backing the entire coins with dollar but with assets equivalent as well and till now we have no idea what these equivalent asset class is, so it is better to stay away from them.