Probably true, but it's not only good for them but also for Lightning Labs, that is another centralized company that is behind Lightning Network.
This sounds a lot like centralization to me, especially when we know most people are using custodial LN wallets.
At least it provides us the option to use it in a much more decentralized environment than the current options (well, I had read the Omni token still exists, but is not supported on many platforms). Lightning Labs doesn't have control over Lightning at all, only over users using their particular services. I would welcome an addition of this USDT variant to exch when it gets implemented, and perhaps even use it (I don't use USDT currently).
I've written a post about the problem of Tether censorship on Taproot Assets
here. A short tl;dr: They can't "block" transfers of this token, but they can "disavow" them, i.e. they can "mark" some transactions/UTXOs, and then these tokens lose their 1:1 USD peg because Tether no longer would exchange them (and thus, all other users would also not accept them).