Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
smart contracts on altcoins solve specific purposes, you may do it in a current coin, but making it using your own blockchain makes it more expensive and more cheap in the same time and more profitable.
besides having a branding with your own coin name too, it is a good solution for all online and ecommerce sites, when people pay you in crypto you almost lose no fees, unlike fiat.
the issue is if every company creates its token and only make it for paying for services it will be cheap and useless that's why they also go and put it on exchanges hoping to get funds and the price to jump