The whole crypto community just collectively chooses to ignore how fucked up USDT is and it is still working!

How is it possible? Ever since their absurd "pie chart" it is obvious to anyone that the company is extremely untransparent and has almost no fiat to back USDT. Is it a "too big to fail" situation? Big exchanges are using Tether and maybe this alone is enough. But what will happen if goverments go after USDT? Are we collectively hoping that the officials will be sufficiently bribed by the crypto big boys to ignore basically a second central bank printing dollars as they please? I do not think that this can go on indefinitely.