Exchanges that tend to do well have more chances of releasing a token that could also exceptionally well.
Of course if there are more people or clients using that particular exchange, you can expect them to trust that exchange and by extension trust the token that they will release as well. Tokens have some advantages for those who use it and the exchange so their success goes hand in hand
Your point is valid, it is true that exchanges with strong track record of performance with robust community such as Binance, Kucoin and Bybit are more likely to launch their own native token. The use case of such native token is its utility for transaction payment and staking for their launch pool/pad. Additionally, exchanges can leverage their user base and infrastructure to promote and support their token. This relationship between their tokens and exchanges can contribute to their success.