First of all, that is not the first "pi coin." The first one was back in mid-2013, on CryptoCoinTalk. It didn't have much of a following, due to the unfair launch of launching it on a secondary forum. It died quickly after launch. Our coin is based of of this coin.
Secondly, the SHA-256 coin launched in January also died quickly after launch. The fact that now that there is a very competent team creating a coin called piCoin with an actual usable number of coins (do you really expect a currency with only 3.14 total coins to ever have actual use?) appears to have made some people feel like they're being left out and decide to resurrect a dead coin from 2 months ago. By the way, the real pi is always lowercase.
People can make their pick.
piCoin (this one): launches on Pi Day, great wallet design according to the many positive responses we have received, way better logo, better website which will be launching over the next few days, small premine, strong team of 5+ people, KGW to prevent multipool dumping, and a usable number of coins. Based off of the original piCoin from mid-2013.
PI Coin (the coin you linked to): 1.9 % premine, dead since launch, not even the first "pi coin" but claims to be the first, self moderated thread, not enough coins to ever achieve a decent following, questionable theories and goals, instamined due to a non pre-announced relaunch, and likely sockpuppet accounts making false statements on the other coin's unmoderated thread.