I'm on the 'it's a scam' side of this coin. Just check twitter, 90% of all posts that even mention pi coin are from scammers shilling this 'coin' to people in promise that its going to get to 314k (pi, 3.14...)
Pretty sure they're stealing your data with their 'mining' app that you stick on your phone
This is for sure, I don't understand how people can so easily trust installing a strange app on their phone and asking for so many permissions. This PI project has been warned as a scam project for several years now, but there are still people who still believe in it, really hard to understand. We should remember that there is no free lunch here its all a scam if its not asking anything from you.
Pi will make a big scam at some point. Then the destruction of those who did mining or will invest is inevitable.