Good Question @smarty
Your concern is understandable but I can reassure you. In my opinion, such an increase in the circulating supply will have little to no impact, also because Investor & Team tokens are currently being unlocked. Please check Transparency Report
The opposite will happen 
and i will tell you why
With this proposal, the number of Well token holders will increase by approximately 1150, which is a 40% increase (stkWELL). You can imagine that this alone is a great added value.
More token holders means more engagement on social media, governance and protocol users. You can see for yourself that there is currently too little engagement in government discussions, as this example shows. This is currently a big topic, how to integrate community members into government decisions. It is therefore obvious that one should integrate community members who are so close to the protocol for a reasonable amount in my opinion, especially if you consider the circumstances that these tokens would be in circulation anyway (Refund Public Sale). Projects that hope to form a community with an airdrop, especially at this time, have to give up almost 10x as much of their token and afterwards it is not at all certain whether someone will use their protocol or participate in the government of the protocol. This danger is zero with our proposal, Apollo users are the loyal Moonwellians 
As you can see, the Apollo community has already contributed more than the Artemis community with this proposal. Shortly after the Multichain Incident we formed a new community together with Moonriver members which is currently growing by 20-30 members per week. You are very welcome Telegram: Contact @MoonriverMoonwell
It is foreseeable that some of the Apollo users will have to jump off with a heavy heart at some point, because there is no solution for the Moonriver ecosystem in the near future. Problems are mentioned here. So it’s a win-win situation to tie the most loyal Moonwellians to Artemis.
If you’re only worried about the price of Well i can hopefully reassure you, those who are still Apollo users and Mfam holders are exactly the people you want in a community, we’ve been through a lot. And we will do everything we can to make Moonwell what it once was and even bigger in the future 
You mentioned about the Public Sale
I don’t want to go into detail but I’m pretty sure that 95% of all WEB3 projects would be very happy about such a public sale at the moment this confirms once again the commitment of the Apollo community.
thanks for your question, I hope I was able to answer the questions and give you a little insight 