From what I've gathered this sounds like a really silly idea. First off, one person owning that amount of coins is a threat because it introduces the reliance on trust. Secondly, the coin will get heavily inflated with the increased total suppy alone, not to mention miners dumping the coins slightly above the cost of production via profit-switching multipools without even knowing or caring what coins they mined. And lastly, one person wanting to pull such radical change to the coin might invite a communtiy takeover. The only way I'm seeing this working if the PoW block rewards would be a fraction of what is planned. People would still mine it if they could even at 10 coins per block, just look at FRESH (~10 million total coins with 10 coin/block and people mine it).
First off, Adam is not giving himself 5 million coins, He will tell you himself in the next day or so. Secondly the coin is not going to be heavily inflated as the coins will BE MINED. That means its going to be a gradual process that you wont even notice. In fact I truly believe this will raise the price. And a community take over? LOL Good luck buddy. I know who's who in this community and it'd never happen. Myself and many other key community members fully support Adam. Lastly, it's Adams coin, and truly, if you don't like how he's driving, then sell off and get off. No one's forcing you to spend your bitcoin here.
Edit: Something I may be on board with would be perhaps asking Adam to spread the coin distribution out over a longer period of time, reducing the debatable effect on the coins price. 5 million coins mined over 5 years might make more sense than mined over 2 years. But let's be patient and see what he has planned.
Try to sell 1.440.000 coins per day for a week and tell me the price won't crash. Or you really think roughly 120-160 BTC worth of coins will get soaked just on the first week to keep the price? Even if only 30% of that would get dumped it would crash. Have you looked at the market cap and typical daily volume of this coin?