Some of the countries feel that joining BRICS will finally give them a seat at the table where their voices will be heard and valued. And the BRICS serves as that platform where they can have a real say in global affairs,
This is a key point when it comes to newly established international organizations such as BRICS. Something that is often forgotten by the people who doubt its future.
The current existing international system clearly does not work. For example organizations such as UN have proven to be useless in important matters in this world and worse than that, they are abhorrently biased instead of being neutral. For example they could not prevent invasion of Iraq and a dozen other countries by NATO. They could not prevent invasion of Ukraine by Russia. They could not even stop the genocide in Gaza that is backed by NATO! and a lot more.
The West with all its fake talks of democracy, freedom, human rights, etc. is actually the biggest neo-dictatorship there is; both in domestic political system and their attitude internationally. For example why should a handful of countries have veto power in the UN?!!! The entire world passes a resolution to end the genocide in Gaza and the US regime that is supporting that genocide, easily vetoes it in order to keep the genocide going!
In that sense BRICS is like Bitcoin, a corrupt and broken system existed (in case of Bitcoin that system is the banking system that benefited a minority) and we needed an alternative for those of us who didn't want to be part of that system any more.
So even though it may take another decade for the New World Order to be fully established and for organizations like BRICS to be in full effect, but we are on a good path so far to reach that goal.
To my own understanding, this BRICS will definitely bring huge benefits to the new financial institution development and aims to reduce the dependence on USD dollars; however, some of the countries that rejected the BRICS invitations shall come to know the reality in the nearest future when they see that these recent countries that joined begin to have their real say globally. Moreover, if the BRICS goals are achieved, it will also strengthen the economics globally.