pretty much. the firm I work at has many millions of tether for this reason (to support the market making bots)

So there is no tether printing scam in the first place? (If there was a scam, I'd love to understand how it works)

I think the accurate answer at this point is we don't know for sure. It depends on how plausible you think it is that Tether has received ~$14b inflow in the past 6 months.