Tether has a bad reputation. They weren't able to comply with EU rules, which also mean that they play dirty game but so far, nothing has happened, which gives me a sense that they know what they do and it's not late to change reputation from bad to good.
To be honest, I thought that not complying with EU rules would affect it globally but it didn't and it's strange for me. USDC has been here for a long time, they are one of the best stablecoin and still USDT more than 2 times higher market cap.