Softcap is minimum funds goal of ICO, and the team only need this softcap reached to continue their project.
Hardcap is the maximum funds goal of ICO, why maximum? because the token was calculated before ICO started, the team can't increase their total token to sale to public, it because they will get decreased trust from the investor. Investor will think that the team is only targeting the money not the ecosystem.
And if hardcap was reached, it means the project is look promising by a lot of investor. It also help us to know the ICO is good or not.
But not all projects that acquire Hardcap on ICO sales are good projects because many projects use them for their own purposes, for example, now many projects are announcing ICO sales but are very lonely investors because market conditions are so impossible to invest, so many ICO projects which is hampered in Token sales.
My opinion softcap and hardcap is the same goal to develop project, want this project only softcap but because Dev really want to float their project then project will keep running and lack of fund can enter after canken already registered in market. because there will be new investors to buy tokens.