Even the worst coins (without ICO) manage to get on a decent exchange, maybe even cryptopia (yeah, without millions of funding). Someone can only guess what thought process has to go through the team`s head here:

Oh hey guys, bad news, no good exchange is listing us for free, but i found another exchange. Nobody is using it, but they are 25th on CMC trading volume
Yeah, its legit?
Don´t know, lets find out. Its free
OMG, free, wow, community will be so proud of us