Lol! Pi network is a scam beyond your imagination! It's less of a crypto scam and more of a KYC scam.
Ask yourself a simple question! If anyone in the world can use their smartphones and start mining a coin for free, why would anyone else buy that coin from exchanges against money? Wouldn't they mine it from their mobile phone? If you get the answer to this question,, you will also understand that Pi coins will never have real value.
Also, you need to do an extensive KYC in order to use the mined Pi coins, so if you like to maintain your privacy, avoid this project like a plague.
Don't mind them, they want to pretend as though they don't know that that coin pi is a very big scam. I wonder what will even make them believe that they can ever get any meaningful thing from it. Even if they decide to launch that coin today, with the volume of coin already in the hands of people, they will crash that coin to zero
So how did these people manage to get their hands on such huge amount of pi? Because I always sees the whole pi mining thing as slow and very restricted. I actually have a close relative that has been mining pi for quite a long time and he doesn't have such a big amount that you are referring to.
Could it be some part of the team members or the very early adopters.
The only thing I find very discouraging is the time it has taken them to launch mainnet and be traded. I don't any scam that will waste so much time, scammers are usually quick to get the money and disappear, certainly not the way pi is operating in.