The main reason is greed and stupidity combined with more money than brains.
Indeed this as the simple answer
![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
and i will add one more they not yet learn and go all in in this industry
token nowadays is like shitcoin but with wrap of good coin so there is little of token that actually have real use case but there is bunch token that exist to make cryptohype
making crypto hype is good but in process to scam people and make ponzi scheme is bad, usually more than 50% token is going to developer pocket event tho is locked or vested more than a year after locked the dev will have the token again