There are over 700 currencies currently listed on coinmarketcap.com. Many of the smaller coins are experimental, meant as a learning mechanism for their creators. For example, I helped to create a Litecoin clone myself (see madbyte.com) and do not expect it to ever become the latest and greatest coin, but I did learn a lot about the inner workings and technical considerations of coins. I feel that many of the new coins are ONLY made in hopes of a quick buck. But it is probably much more effort to launch a coin than the return it will get you.. but people will keep trying in hopes that this will be "the one" that makes them rich.