Why do you need a block chain for this? The functionality can also be created without this.

With a blockchain, they could set things up such that the ownership data is not owned or controlled by any one company. I'm not sure what Kodak would get out of setting something like that up. But there doesn't seem to be another reason they'd be using a blockchain, and they probably aren't just being stupid.

This is just another attempt to get money from eager “investors” through an ICO (according to Kodak it will be SEC regulated, I would be very surprised, it would probably be the first)

I'd agree and say you don't need it here either but compared to a number of other blockchains I'd guess it is a very reasonable idea.