It means that when the miners start mining, dev(s) will already have 4.54% of all coins to ever exist in their wallets. It could be used for promotions & payments for services and/or they could just dump it on exchange as soon as the coin gets to some exchange driving the price down for a what might be a long time (if it ever recovers, but they usually do)...

So it's a matter of trust. The dev is a newbie, so no trust build here yet... He may be trustworthy or not... I do not say one way or the other as I cannot know.