The cost to broader community sentiment is ultimately far higher as we have seen with recent projects like Scroll than the dilution, of which is ultimately relatively small for a project of this scale.
Appeasing the top 100 users at the expense of potentially millions of real users is never a good look in an industry that is fundamentally built on network effects.
Shouldn’t forget there has already been one highly tiered drop and even in a terrible market the token performed quite well. There WERE buyers including myself.
On top of this consider the upcoming 33% supply reduction, making much of this somewhat irrelevant.
We can say ASR is unrelated to Jupuary, but ultimately what many giga whales are advocating for is effectively a second ASR allocation with a different name, or simply no Jupuary at all and consolidation their voting power further.
I am no whale but have been a power user for over a year, this isn’t specific to Jupiter but I have no interest on supporting or even interacting with projects that allocate linearly or that cancel airdrop promises altogether as in this case is being asked for.
Fundamentally, to reject Jupuary is asking for more centralized power for whales, and less decentralization broadly such that it will ultimately become totally intrenched, and voting for 99.99% of users pointless.
Don’t forget this was a promise by the team to begin with, a horrible look if ignored for the sake of 100 whales out of a project with over a million users.