The news isn't good.
If you're an owner (or aspiring owner) of the T-Mobile G2 you'll want to pay attention to these next few sentences. PhoneScoop reports that T-Mo has issued a statement about WiFi calling and tethering on the new smartphone. Their stance:
"Wi-Fi Calling and tethering/Wi-Fi sharing are not currently supported on the T-Mobile G2. T-Mobile knows these features are important to consumers and we're working to deliver them to G2 users in the future. We have nothing further to announce at this time."
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So there you go. T-Mo is working on the issue. Why hotspot-sharing has made it onto Sprint and Verizon Froyo devices but not T-Mo devices has been left up to the reader's imagination.