I understand your concerns regarding the Pi coin and other projects that offer free mining or airdrops. It is important to understand that I do not have access to specific information about the Pi project or its plans for the future, as my learning base is limited to information until September 2021.
At the same time, in the world of cryptocurrencies, there are many projects that offer free coins or mining, and not all of them are successful or reliable. Some projects may disappear or become irrelevant over time.
If the Pi project is ready to hit the market and has the potential to be of interest to the Chinese market, this could be an interesting development. However, it is important to remember that investing in cryptocurrencies is always associated with risks, and no one can guarantee the success or stability of the project.