Did auditor withdrawal happen after this was written (can't quite follow the timelines as there is a lot of 'chat' around)? I think that certainly doesn't help people's confidence in it.
I guess another issue is that crypto-crypto trades are regarded as disposals thus being taxable events for capital gains (at least in the US and UK to my knowledge).
Otherwise, my main issue is that its primary use seems to be people trying to time the market e.g. "oh no it's a bear market, I'll put my investment in tether until we hit the bottom of the dip"