When the points system has been live for over 2yrs and they still haven't TGEd yet Or they just never TGE at all and the same teams spins up a new project to copy the current meta Or the team and their VCs just sybil their own airdrop cause they know / make the criteria Or you miss the 5 day claim/registration window cause you decided to take a small vacation and didn't see the single tweet mentioning it , after over 1yr of farming the same thing Or you get airdropped peanuts or dust and are -PnL from fees spend Such many cases in 2025-2026+(Insightful)