Any coin that is a fork is just a lazy attempt on the part of the developer to try to piggy back off of the success of the coin that was created by someone else.
Despite the decent privacy features, you are right about the attempt of this and similar forks to capitalize on the success of of other coins.
And this one is a double fork! Just look at the market cap.
The market cap is artificially inflated because they forked from BTC. The vast majority of bitcoin holders would probably never claim their BTCP coins, ever.
But they are taken into account when calculating the current market cap.
Unclaimed coins will be used as reward to miners.