The reality is that if Tether is truly backed by fiat funds as they say, everything will be fine and we will have improved options with other stablecoin competing for assets. The benefit is that the new players like GUSD, DAI and TUSD are being transparent and using the blockchain to record the transaction making it more trustworthy. This is important as this could help adoption increase by eliminating volatility in cryptocurrencies which could provide more liquidity for every day transactions and make earning a living in crypto more of a reality.