If you think this is the case, you have no understanding of how Wall Street sell side research works. Any guess how they make money? Who is paying them for the research? What's the firm's history in ratings (hint: very ugly)?
These ratings have absolutely nothing to do with either technology or as investment potential. They have everything to do with the firm's, and their clients' current crypto holdings.
The fact is that people do pay for their research so even though you and I don't care, others do in fact value their ratings. This is meaningful as it gives credence to crypto assets for that audience regardless of what we think.