What is the point of everyone having their own stablecoin?

It seems like every day there is a new article about some company or government looking at creating their own stablecoin. Help me out, I just can't see the point of so many stablecoins. Wouldn't one, or perhaps two, stablecoins be better for business and government? Maybe I'm missing something, but wouln't a multitude of stablecoins would cause more problems for businesses than benefits?

I understand the purpose of stablecoins in general, but I just don't see the point of Meta, Amazon, Utah, Laos, and the UN treasury issuing and maintaining their own unique stablecoins. It feels like it did a few years ago when business lost their minds during the bull market, with CDC buying a stadium name and Facebook renaming itself Meta.

What am I missing here? Could someone better educated about this please explain the economics of this like I'm five?