I am boycotting this only in it's current form as a CIS project which exploits volunteer work.
If there is a similar community initiative, I will definitely provide my token support.
Irrespective of this being CIS led or community led, I have a difference of opinion on the relative usefulness of this project.
Please note that Gerard has conceded that empty data items do get deleted in WikiData and you need to champion to keep this work in WikiData.
The right approach would be to work on creating articles related to this (even if they are stubs adhering to local community standards) and then proceed to WikiData.
From a local perspective, the language communities might prefer spending energy on their regional MPs than working on all MPs nationwide.
Please note that there is an ongoing discussion in Tamil community regarding spending limited volunteer resources on too many Wiki projects. There are people who oppose even working in less visibility projects like Wikiquote and Wikinews without improving Wikipedia first.
All these labels will only appear if someone searches regarding this in a Wikipedia search box and won't add any content to native language Wikipedias by itself. I don't see WikiData appearing prominently in search results either.
I am not against growing WikiData but there are other primary tasks we need to do first using WikiData. For example, do we have a WikiData page for all our articles? If not, that would be the first task we should take.
However, these are my personal views and volunteers can choose to spend their energy wisely :)