Even if they're legit, I think space is too crowded right now. Too many new players while there is no change on the users. These token for exchange model is also not groundbreaking anymore, they're probably going to be another low volume exchange like any other.
I am completely in agreement with your point, the market is just too saturated, and it seems to me that exchange is what many people wants to go into, and then they keep complaining of not having volumes, how can they have volume when the number of exchanges that we currently have is almost outweighing the number of users in the cryptocurrency market.
I think many projects who thinks of using the blockchain technology to work should try as much as possible to start looking for new concepts, I think we are just tired of investing in old innovations that are just copycat of one another, we really need more than exchanges right now, all my years in the cryptocurrency industry, I have only made use of 2 exchanges, and that is Binance and Huobi.
