Of course you are right. But still there are people who want to get coins for free, even if they are smaller than before. On the other hand, this is a good advertisement for the project and should not miss the chance.
Promotions are needed for all projects.
however, the rules should be strict, and the checking procedure should be done carefully to screen and wipe out all cheaters.
It's always terrible to give away free coins to cheaters easily because they will fastly dump after receiving.