Things will change eventually. SPS airdrops are indeed a reason why it is so low.
If it had the same marketcap as AXIE, it would be at 57$. You can check this tool:
https://www.marketcapof.com/axie-infinity/splinterlands
Eventually, airdrops will end and also SPS should be listed on some major exchange eventually propulsing is value and you'll be glag you bought a bunch at 50 cents.