First things first.I have said this before (twice I think) but I am going to say this again. Absolutely love that handle - Luke Steemwalker :-)
Now onto the video and what I took from it - Market is in the 'dippining' stage and this is a reasonable time to Buy back in. Although I think we might only go to around 350 mark before targeting 490 again (short term).
I personally have never been able to trust tether fully. But again I will use your words 'they hold on 20% reserve, which is still better then conventional fiat'. My point is that I might have been able to trust tether fully but I don't trust fiat at all. So given I choice I would rather buy Bullion and if that doesn't happen then I'll choose USDT to temporarily park my money. Still the point that founder if Terra made in video that 'the backup USD for Tether is not on the blockchain and thus susceptible' rings true to my ears.
Now where Terra is transacted and Luna is given a boost. Thus the people are not just owning coins, they are actually getting a stake in the ecosystem and that is great analogy.
I want to be a part of this system. A system where I have stake and thus my actions can directly contribute to the direction of it's growth.