Since I first got to know about crypto, I've seen this project, it took a very long time to get to this point. TBH, I don't think this project is a legit project due to its development time and ambiguity.

Just like you, people in my country (Indonesia) have also started trading (P2P) this Pi coin, because of the unclear track record of the Pi coin, I also asked them, why would they want to buy a coin that doesn't even have utility and clear use case. Their answers also surprised me quite a bit that they also believed this Pi project to be an obscure project, but now that Pi is getting the Hype, they are taking this opportunity to take advantage of the idiots.

Overall, buying and selling Pi coins is a Monkey Business (IMO)