Now the real question is whether bankruptcy would topple USDC since Coinbase is one of the major backers [0]. It's holding steady right now, but so was UST a few days ago. USDC has $48B supply and is propping up DeFi apps on many other networks (just look at AAVE [1] and Curve [2], two multi-chain protocols), so if it falters, there could be massive fallout.
I don't think you can really compare UST and USDC like that. USDC has major backing by very large players in the space while UST is backed by... just Terra?
But I agree on the last part, if USDC looses its peg, large parts of the ecosystem will be fucked. But considering who is managing + supporting USDC, it'll take a large event for USDC to lose its peg.
[0]: https://www.centre.io/usdc
[1]: https://app.aave.com/markets/?marketName=proto_mainnet
[2]: https://curve.fi/pools (search USDC)