@tabris tks for reply , further to your points.
What incentive do the HUNT token issuers have to airdrop tokens to SP holders?
Why wouldn't they just issue to all STEEM holders irrespective of SP proportion ?Yes , that's correct , it will also depend on the conversion rate of STEEM Power to Hunt Power.
It is arguable , other currencies don't have a stake system so it isn't necessary that loosing SP as a concept will automatically mean sell-off but it will certainly make it more likely for a sell off to happen.
There was also an argument put forth by someone that any app running on STEEM blockchain may require SP ( owned or leased) to have adequate bandwidth to execute operations.