Bogus. As far as anyone knows that 80% is mrfarm and his buddies mining on a private pool.
I find the claim of "Thousands of smaller miners" to be ridiculous. There isn't thousands of smaller miners solo mining spreadcoin.
The thousands of miners claim is clearly false, it's a few hundred at best but as far as decentralization goes check the block explorer for yourself:
https://chainz.cryptoid.info/spr/Some of them controls more than 1 wallet ,like airball has 5 wallets in total of 90K+ spr last month.
So he owns 5% of all the coins. Every successful coin started with bagholders.
And the dev owns 15%+ of all the coins by instamining.