I dont consider this behaviour cheating. If somebody wants to do this, he can do it. As the airdrops are distributed to WCT holders, they would be distributed to someone anyhow, so it doesnt really matter who is holding the coins when the airdrop happens. If the person who does this sells his WCT again right after the airdrop, there will be someone else taking his trade and therefore become the new owner.
If lots of people behave this way, it would only result with the price spiking before the airdrop, and dropping right after. So the exchange rate wouldn't only be slightly less favorable, actually there is a real risk pfoceding this way and only the few fastest people moght manage to get an acceptable rate.