While I've consistently made money from airdrops, I've always been strongly opposed to projects ultimately benefiting those who exploit the system (likely referring to those who profit from arbitrage). My reasons are as follows: 1. Arbitrageurs and investors are natural adversaries. No investor wants their project to distribute all the raised funds to arbitrageurs. It's worse than death for them. 2. I've always hoped to airdrop funds to gamblers, because gamblers will sell the tokens cheaply to long-term investors and will almost certainly try to recoup their investment. Arbitrageurs, while not necessarily unwilling to sell after obtaining arbitrage tokens, doing so is a disciplinary error. They are naturally the mortal enemies of long-term investors. 3. Arbitrageurs want to profit from the project's fundraising. Projects want the transaction fees from arbitrageurs. Real users and investors want the long-term value of the project. Letting arbitrageurs profit ultimately hurts real users and investors. 4. Of course, over a long period, some so-called investors are essentially arbitrageurs. Others may appear to be arbitrageurs but are actually investors. Overall, I don't think playing flirtatious games is inherently evil, but it's a very boring game.