Okay, honestly Plarium, consider this:
Your game is made up out of a certain number of players. I estimate the whales are about 1% of your active player base.
Now, those whales are often content creators, a.k.a free commercial for you and they also have a large number of followers.
They in turn, make money of having followers that enjoy watching and playing the game they are presenting.
When their communities start to show that they have no interest in the game anymore (mostly because they don't find it enjoyable to play or watch) those whales will start playing something else to keep their community watching their channel.
By not listening to the F2P and moderate spenders, you'll eventually lose the majority of your player base and with them, the whales. You can't buy them with gifts in the long run, because you will never give them the income that they get from their community.
This is the beginning of the end for you if you continue to only tend to the whales.