i don't want this anywhere near my home please
Garbage, sure, decompose away.
I was going to say that it probably isn't PET, but a bit of Googling quickly turns up articles about people making houses out of recycled plastic. If that's what it is, it could well be PET.
At that point, not having the PET broken down into monomers is a pretty lousy silver lining.
(Seriously though, it needs fairly particular conditions to work.)
And it's not like the ability to dissolve plastic is new; there are plenty of solvents which will do this for various plastics.