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The problem with pegging (aside from phrasing) is that USDT is pegged to a specific amount at all times. Pegging to a moving target seems like a great way to create manipulation opportunities.
(None of this gets to the fact that Tether and USDT is also a scam.)
ETFs also have heavy auditing and asset regulation, which is something I can't see blockchain companies going for (since that would also probably mean working within a regulatory framework that includes KYC).
What moving target? 1 share is always 1 share.
It's not the blockchain company's job, but the token issuer's. Just like with stablecoins. No difference. But instead of backing the token with USD, it will be backed by shares.
The regulations are for the issuer, not the user. Stablecoins are not subject to user KYC either.
The tokens will be pegged. The issuer will have to guarantee the peg, just like with stablecoins, and presumably they will have to show proof of backing, report regularly and be subject to audits.
Names are not the most important thing. There are probably dozens of tokens called USDT, but only one of them is backed by Tether, the others are scam tokens, and you tell them apart by looking at the token address.
Trump launched a coined that wasn't backed by anything. Tokens launched under the new regime will be backed and if they're not, they'll be non-compliant and exposed as such.
If BlackRock launches a token that represents NVDA stock, I'm sure there will be demand for it. And people will trust the token just like they trust their ETFs - because of the issuer's reputation, and the regulations and trust in the US financial system and rule of law.