I have to agree with your assessment. In my opinion this is going to epicycle fail. If I were the dev I would be dumping it hard now, get in before the suckers who fell for this.
No, I'm sticking with makebelieve on this one, our leader to a more pure crypto universe.
I'm going to hold my stagnant bags while that dev wallet grows EXPONENTIALLY. It will feel good to miss the profit and staking rewards because the self-righteousness I have is more important than trading for a profit.
Just know that since I am taking makebelieve's lead, I am better than you because of the purity in my heart.