It’s a “grab money from naive people scheme” that allows transforming strong advertisement into money. If you have an initial supply of cash or are a big influencer in the public space, you can get money from a lot of people.
Turns out, after a while, the amount of idiots that are willing to give you their money dwindle, so the whole “market” kinda dies. Give it a bit of time and it will start pumping again.