then what is the point of having it?
You ask this same question to the shitcoin bagholders and they will cite strange reasons like Bitcoin network is slow, fees is high and so on. If they dont like these things then they are free to go for other options, namely shitcoins. The purpose of producing them is for the devs of that coin to make money. Simply every altcoin is this after coming to bitcoin. On the other hand, people become emotional if you point this out but they will continue to defend their altcoin.
You cannot sustain artificial liquidity right? What happens when companies stop paying fees, or stop paying the market maker service, then what?
Yup, its more of market manipulation. You stop buying when you see its not worth it. People understand this too. But the advisors and devs are quick to cash out the money and sell of the project to a new owner.