Words have meaning. If it's not fair, but not a premine, call it something else. Describe it. I don't think it is the same as premine though - it has direct feedback loop to performance - the new coins are worthless if they are not doing good job, so it's a proof of (other kind of) work. If the coin does not perform, it's gone to shit. It makes literally no sense to use a word that means something else to describe something just because you don't like it. Criticize it with the right words, otherwise it's human slop.