In the case of ethereum backed coins, every service does not really have its own coin, but rather a derivative of ethereum. As long as the coin is tradeable for

In the case of ethereum backed coins, every service does not really have its own coin, but rather a derivative of ethereum. As long as the coin is tradeable for general ETH tokens, it must fundamentally be pegged to the price of ethereum, even if it's traded separately on exchanges. There are obvious downsides to that, but it's a tradeoff for ease of development. You can create your own "coin" -- really just a (set of) smart contract(s) -- with simple tooling provided by the ethereum ecosystem. This is the real genius of ethereum; there is no "one use case" for it, but rather many, limited only by imagination. As more contracts are added to the ethereum ecosystem, ICOs funnel money into ETH, and ETH as a whole benefits from the ever increasing number of derivative services.