While that is true, and you are 100% right, that doesn't make them a legit company. I am sure that we are going to end up with how things change, and that is the most important part. We need to see how this is quite good, and this will not be that weird, we just need to see how things can change.
Tether is still a horrible company that can crash at any given moment, even one big legal trouble with USA and they are gone. So do not assume this would be decent, it's as bad as it gets. We need to see both USDC and USDT as dangerous stuff, and can't really see this as a way to move forward. We need to get rid of stablecoins, and figure out something else instead of them, it would be a lot better, we shouldn't trust some companies with our money.
With Trump being a huge backer of stablecoins, I don't think Tether will have any problems during the remainder of his second-term. Everything will be "reds and roses". Even Binance will be lucky. It might as well as "relaunch" its BUSD stablecoin, now that the GENIUS act was signed into law by the President. Money talks, so it's likely Tether will use its money to manipulate regulators for its own benefit. I mean, what company doesn't?
What's important is that investors have some sort of protection or guarantees that would help protect them against a (possible) stablecoin collapse. Sort of like what the FDIC does with banks. Your money in US banks is insured up to $250k. If stablecoins had something similar, they would be a "blast". We can never tell what will happen in the future. I'd proceed with caution, just in case.