Nowadays, it is difficult to build up a succesful projects in crypto from scratch. Therefore, teams tend to create more exchange projects to find their opportunities. However, not all teams can build up good exchanges, even they don't have intentionn to scam their investors/ customers. So, if someone don't have enough experience to verify good/ bad exchanges, they should use well-known, old exchanges, that have good histories, without scam accusations or flags (nowadays).
I did notice that myself that most of the startups are exchanges, in which they are trying to compete with the low and average-type exchanges that are existing in the market. I honestly agree that these exchanges are saturated, in which almost all of them are having the same function and features (with a little bit unique features).
And on top of that, these exchanges are having their own tokens. The purpose is for them to use it a trading pair to other coins or tokens, and may give it away as an airdrop or in trading competitions. However, there are other exchanges in which they're not yet tradable in their platform until now.
I wouldn't mention that exchange though, it's been a year and no movement from their part in activating that token of theirs for trading. I just don't know why they are doing it because they think they can compete with the big guys out there, and convincing them to trade in their respective platforms instead. It's just that most of them failed and didn't attract a lot of people to trade with them due to their "almost the same" features like what the big guys do.