The point of a Project365 is whatever the person doing it makes it about.
Sometimes it's just about using the camera every day, not about creativity. Maybe they just want to develop the habit is Having The Camera With Them, and this is a way to do that. Maybe it's about learning to see the world as a series of rectangular slices, and you gotta take a lot of bad ones to sort out what the good ones are. Maybe it's about deliberately taking bad ones, so you can study them and ask yourself why they're bad.