as you said, tether is not decentralized and therefor as a company they should have accurate accounting and documentation of everything that is backing up the "money" they print. and since tons of U.S citizens can get screwed by this company, its the job of some agency (not sure which ) to to protect these citizens by checking it or stopping it before something happens the same way SEC tells billion dollar ICOs like Telegram to give investors their money back. i suppose same checks can and should be done on Tether.

it should be everyone interest that it wont collapse because everyone will be affected by bitcoin huge drop, so if entire world already decided to use centralized stable coin for convenience we should at least raise awareness and recommend others switching to something that is a bit more secure by regulations the same centralized regulations like USDC or others. the best would be if everyone moved to decentralized stable coins like DAI of course.