It's all about the money. Exploratory Committees are required to enable campaign donations; usually. Think Warren. There's a FEC clause which tells the necessity of a filed treasurer allows donations withers being followed for the level of nation. In the end, they all donate to a Foundation or charitable org they hold ties too. That $ is then laundered & ultimately funneled back into the alleged candidate's holdings. It's an Old Guard loop hole scam that John Q knows zero about.
https://www.fec.gov/resources/cms-content/documents/feca.pdf