Great points and very true! There are a few elements at play though. First, if ad blockers are being used (and continue to grow in popularity) or sites are being seen on mobile (in some instances) then display ads are not being seen. Secondly, brand awareness is important, however, how do you quantify and align the contribution of display ads to this objective or business objectives without using CTR? Lastly, if there is a negative perception of display ads, then the brand awareness may actually be disadvantageous. Again, I think your points are great, but there are some additional elements to consider when thinking about display/banner ads for branding purposes.
Also, thank you for reading and taking the time to respond — I appreciate it!