Links to *myurl*/cgi-bin/te/o.cgi?purl=https%3A%2F%2Fomeglatr.coolpage.biz

I have a site which has tens of thousands of these kinds of backlinks - *myurl*/cgi-bin/te/o.cgi?purl=https%3A%2F%2Fomeglatr.coolpage.biz

Don't know where they are coming from. The links all go to a 404 page because I don't even have a cgi-bin folder, deleted it years ago.

My question is - why? Other than completely messing up my backlink profile with spammy crap, why would someone do this?

You can just disavow them.

They are disavowed. And every 2 weeks I add another few hundred or so to the disavow file. But anyway I think google has gotten pretty good at ignoring these kinds of spammy links.

I just don't understand what the value is for this "omeglatr" site and others like it. Why are they creating links like this?

It looks like a redirect script of some sort, there are lots of similar backlinks on other domains. Is your domain expired? Maybe it housed this script in the past, and made it onto a list of redirects that some clueless SEO is using to spam without actually checking that the links don't 404.