If I am to answer this question of wether Tether is a scam or not, I would honestly say that I don't know, but usdt have always been my number one choice when ever I need a stable coin for whatever reason.
And whether Tether will one day go away? I also can not tell, only the future can, but due to the several controversies surrounding the company; Tether, I personally don't keep too much usdt for a long time, I only convert to usdt, keep for a few days, then decided to sell it for my local currency or invest in another crypto currency with it.
You are doing right 5star,
but what's the point of stable coins?
It's not to serve crypto traders.
It's to serve
ordinary people, citizens of countries with high inflation.
People completely financially unsophisticated.
Local grocery stores, fruit sellers, street restaurants, pensioners and housewives...
Stablecoins should offer a easy way to these people to save their purchasing power from inflation.
You must apply the mechanism I described above ("When you buy USDT Tether is unloading on you the risk of their investment while they keep the profits of those investments for themselves") to ordinary people, then you will see the dimension of the problem.
When you judge cryptocurrencies and stable coins it's helpful if you stop for a moment thinking from the point of view of a crypto trader and start thinking from the point of view of ordinary people.
Cryptocurrencies - in particular stable coins - should serve primarily ordinary people, not crypto traders.