You are looking at this matter from a completely wrong perspective, because nobody got anything as a gift, not even those 1000 merits.
All members have to work and match with forum rules, rank requirements (which have been changed a few times in forum history) to achieve their ranks. It is just different to get it easy or difficult.
The new rank is not something that makes too much sense to me, but I think that if such an idea were to come true, it should be awarded to those who, for example, earned over 10 000 merits, because it is still an achievement that is worthy of some kind of award.
They're really deserved it and in my opinion, a highest rank (new one) should be applied for 10,000+ or 20,000+ merit. No more rank above it so its requirement should be really high.
What I would also suggest to make is some kind of difference between the Legendary rank that is achieved only with airdropped merits and the one that is achieved exclusively with earning merits.
For example :
Legendary (airdropped) remains the same as before.
Legendary achieved without airdropped merits (coin color change).
Legendary who earned over 1000 merits after airdropped merits - maybe call them Legendary Veteran.
It is too complicated and makes forum ranks, badges look more messy. I don't support it.