While I agree we don't need this many practically, having lots of options that try different approaches is one of the things that makes Bitcoin special.

As for Cake -- the main differentiator is that we put privacy first in everything we do. No telemetry, no tracking, no accounts, etc., while also leading the way in a lot of privacy tech (Monero, Bitcoin Silent Payments, Litecoin MWEB, etc.) with more coming down the pipe (i.e. Payjoin v2 is a WIP and in internal testing).

We embrace the reality of a multi-cryptocurrency world which is also a key differentiator, making it incredibly easy to swap between cryptocurrencies w/o KYC or the traditional deposit/withdrawal at a central exchange. Most people out there are not Bitcoin-only maximalists, and the vast majority use some combination of EVM chains, Bitcoin, and Monero. We want to serve them, while allowing hardcore Bitcoiners to still have a "Bitcoin-only" experience if they so choose.