I generally share your view, but I imagine influencers can also add value for the consumers, because they put their name behind the products they advertise. While there probably are more than enough influencers that just advertise anything, I'd expect there are some who actually use and like whatever they advertise. So they kind of provide a product vetting service to consumers. As long as you can tell their ads from their regular content, that is.

Total speculation though as I'm also not really active on that kind of social media.