I think cuz you can only have 5 and you get a limited say in how you label them ("hire", "start up with", "work for" etc) it makes you reflect and be more considerate in your choices.
I'd be more interested in a better ATS or CRM.
if i have 10 endorsements, i want to pick the best 5. whether a celebrated person is among them is besides the point. i still want to choose.
by default, newer endorsements are better than old ones because they are likely more current. and i am not going to go out of my way to seek a new endorsement if it isn't a better one than what i already have, so when i do get one i most likely want it at the top, so making that default reduces effort and confusion
if i put my hiring hat on, i am not sure how i would accept these endorsements myself. frankly when i am hiring, i'd mostly value endorsements from people that i trust myself, which only works for candidates that are already in my network somehow.
i would consider endorsements from a reputable testing service so that i can skip coding tests.