You don’t need something to have a point at all, just make something apparently cool or trendy, and there always a crowd rush into the trend. Could you find the point of Labubus or Stanley cups besides its popularity?
I am not going to against the news part, as you could see my other replies from someone who find niche hobbies with it.
For most people, it's a distracting little jolt of dopamine and a way to get quick news or commentary.
It's definitely not good for our brains for that to be the main kind of content we consume, but it's not useless.