There's no relation between exchange native token and Bitcoin.
Bitcoin is decentralized, no one can control the price, limited supply, independent, no one can freeze the coins. While exchange native token is centralized, the developer can control the price and manipulate it, unlimited supply, must need centralized exchange to trade, the developer can freeze their coins.
The only utility of those exchange native token is for the user who use their exchange, but since I avoid to use centralized exchange, there's no point for me to buy this shitcoins.
I completely agree with you. Exchange native tokens may have utility for users of the exchange, but they also come with a lot of risks. As you mentioned, these tokens contributed to the prolonged bear market and caused a lot of FUD.
And there are other risks involved too, like the centralization of these tokens and the fact that they can be manipulated by the exchange developers.
I think it would be better if crypto exchanges focused on providing a good user experience and offering fair trading fees instead of trying to create their own native tokens. These tokens can be very confusing for new users, and they may even discourage people from getting involved with crypto altogether.