So, yes... I guess you could say that I respect the survivors (who would probably be pissed to be called that) for trying to turn those little alphanumeric strings back into something of value. And, I'm willing to give them credit for putting out xpy.io that seems to be functional. I think the hedgers thing is a new approach to getting more BTC into the environment, so that would, theoretically, help increase the XPY price from an 'economics' point of view. But, if the price of XPY doesn't go up, they won't be selling too many of them.
So let's take the next step and spell out what does it mean "to turn those little alphanumeric strings back into something of value". It means someone ELSE needs to buy their bags at a value they consider sufficient to cash out. We've had this discussion on GH and I still don't see how having large bags of worthless junk can possibly help to turn the Titanic around in any meaningful way. I mean being a bagholder does not make one an expert in finance or economics or cryptography or software development.
And I strongly disagree with your assessment of xpy.io. It is clearly a ruse to dupe smaller bagholders into locking up their coins. Do the math - a 10% fee to load a 3-month hedger that will return ~6% in 3 months (25% annual), probably less if the coin gets forked. Go browse around their website and come back with a link to their terms and disclosures and shit, I dare you.