Endorsements should use a web-of-trust.

Some people (undefined process) are given an endorsed skill (eg. Python). They can now endorse anyone in their network for python. But they cannot endorse anyone who claims a skill in 'goat herding'.

Now they have meaning as you can only endorse someone for a skill you have also been endorsed for.

My former boss had added 'Oracle' as a skill. I didn't know until LinkedIn asked me to endorse it. He's not even a technical guy, so I've no idea why he had added it but he's actually been endorsed for it by other business owners.