True, there is not really an airflow (the same as in soil)
But that doesn't mean that O2 does not get there.
The molecules are so tiny, they can slip through the smallest gap.
Like in soil. Plants even grow in clay soil (would not suggest it for your grow though
)
The benefit of Hydroton is that even more O2 can slip through then in almost any other medium.
That your bottom stays damp has probably more to do with the fact that the water can not evaporate very well there. Some airflow would help, true. But there is still plenty of O2 there. Not of course when the bottom of your pot is closed and there is a layer of water.
O2 will sneak through the smallest and tiniest holes.
Thank God for that, otherwise corpses in a graveyard would never decompose