Not too much. 40% is the appropriate bonus for people who support the project for a long time. As you know, in the long run, the prices of altcoins collapse
Indeed, with the early support of these investors, projects that reward them with such a reward are appropriate, even if it adds a few percent more, it is not a big deal because as you said, in the long run, no one knows what will happen to the project, it could be a reward or a risk, the bonus created by the project only helps people feel fair, which is also a way to attract investors. But one very clear problem is that the bonuses are bigger, very few people risk venturing to invest in such projects, the risk is usually quite large
This is too much, we all know that those coins that are not gonna sell until the end of the project will be burn, it means the supply of the coin will be shorten or decreased. It looks like it does not affect but it is really too much when an altcoin will finally make it to the market.