Joe-Blow doesn't care and doesn't know the difference between Primecoin and Riecoin nor does he care and that is the exact point. Hype Coin. Make some dollars, have some fun, burn some chips but in the end it is just part of the cryptocoin saturation which is a bigger problem.
Of course the altcoin market is saturated. The point is, coins like this one at least set the bar a little higher. If people keep picking coins with at least an innovative PoW, that will cut off the basic coingened scrypt clones.
And let me repeat my question -
What do you expect?