Since it was first launched XLM (Stellar) using the airdrop system until now still using the same method, the fact is that this Coin continues to grow with its community
so this time airdrop is not a serious threat.
This is indeed true,
lately people are easily freaked out because of the airdrop and the total coin they want to distribute to the community.
They forgot how it started a while ago, they want to do this because they want to reach new or non-crypto players to understand how crypto works and at the same time advertising the stellar blockchain.
it is unnecessary to afraid of the dump because the distribution takes time to complete and it does not pressure the market that great, on the other hand if this campaign works as they intended to, It might bring a new life to the project and to the community.
People that benefit the Stellar airdrops can easily dump it on exchanges because Stellar is a solid project and have high liquidity in volume trading. Also those dumps were minimal. The big part of the airdrops are those people that hold large amounts of bitcoins. Those bitcoin holders are usually rich and smart and they don't need to dump it right away, let alone many of them are also Stellar believers. I have friends that until now holding them because they believe in Stellar and no matter what happens it is only free money to them.