Shitholes are countries like Somalia, Burundi, or Haiti. You clearly have no idea how shitholes actually look like. Countries with their own personal shortcomings are not enough to qualify as a "shithole". Besides, BRICS is good for developing countries, it gives your country the opportunity to no longer be bound to the rules of Washington and its monopoly in economical and political control. BRICS would not be necessary if the dollar was actually backed by anything, and institutions (largely controlled by the US) weren't constantly being used against nations.
Leaving your wealth with a nation that any given moment can freeze and steal assets is the main reason why such organization is necessary.