I've only really started learning about crypto and I don't really see the point to all these million different exchange tokens.
Most of them just seem to speculative tokens with no actual function as far as I can see

What do you think?
A lot of exchanges exist because of issuing token to crowdfund founds for start. Binance, Kucoin, Bithumb, ... There are plenty more. None older exchange have any token. Three is not Bitctamp token, no Poloniex token, no Kraken token.