Well i knew this would definitely pop someday. Why create a new coin when we have cryptocurrencies already operating in the cryptospace. All these new coins reduces the market cap of existing coins such as Ethereum, Bitcoin, etc.
The whole idea is to run on a blockchain technology, whatever coin they will be operating will be a utility toke used internally and not external, so they may not serve the purpose for which Bitcoin and Ethereum were created, and even if they will not be used internally, their project and that of Bitcoin/eth is totally a different thing, and they cannot be building another man’s empire when they can easily focus on theirs, what is the need of selling shares to someone and giving them another companies collateral in return.
The only idea I do not support is company creating general payment token when we already have Bitcoin and Ethereum to serve the purpose.