The topic title is misleading and a noob trap. Devs hold most of the supply while staking the most with a valuation of several million $s.
Smooth would call it a scam if he wouldn't be invested so heavily I basically agree with this, including the 5pt type.
But as I have said many times before,
noobs should not invest in cryptocurrencies, period, and especially this one where everything is set up in a very complicated manner that is as you call it a 'noob trap'. I happen to think there is potential here, and there are interesting things going on, or I would have just dumped all my mined coins, as I have done with other coins where got the jump and mined a lot. I'm not one who is afraid to dump junk for a profit (or even to limit a loss).
Nevertheless, what I think doesn't matter. If you don't know
exactly what you are doing here, and have a well-reasoned business case for why it might succeed despite the nature of the launch, stay far away. If you can't afford to lose every satoshi you put into it, stay away anyway.
You are clearly supporting a project
I'm doing no such thing. I have a stake in it, that is all, which I may very well lose if and when it fails. I'm giving no support to the method of launch nor am I encouraging anyone to invest in it.