Having a 4-pin molex to floppy power adapter makes sense obviously but its like this cable has the wrong 4-pin molex connection. Shouldnt it be female rather then male?
Well, it's either one of two things. It could be a part out of something that used the floppy connector for something other than a floppy drive. For example I've had external enclosures that were compatible with SATA and IDE and had a little power cable that you could switch out depending on what you were using.
The other possibility is that it's a simple manufacturing defect. I once got a SATA to Molex adapter once that had female pieces on both ends.