They claim to have created it so people with old ASIC miners could use them for something. I actually mined it for awhile with a couple of Antminer S3's. No profit but it was fun.
Litecoin Cash was a pure scam. It was just to make money off the split because they were giving 10 coins for every one. It went to like 9.00 everybody made money and that was it.
I disagree with ICO's being a scam. Many are but it is a great new way for people to find funding for a new business. They can be done right. There have been legitimate ICO's.