There are many, many industries that rely on brand awareness to sell there goods. There is an amazing quote which I unfortunately couldn't find that goes something like this:
"In order to reach the small segment of the population
that is interested in buying Mercedes, everyone in the
world must know what our brand stands for."
Ads with intent drive clear, immediate ROI, but they can only ever capture the segment of the market that know what they want. Display ads on the web may not be the future of advertising, but it isn't going to go away, even if cable TV died tomorrow. In fact, the very fact that this discussion keeps coming up makes it pretty clear that there is a huge opportunity to innovate in this market. Maybe the advice should be: don't build a business that runs on static display ads, do try to find an innovative ad model that engages users and works for brands. Ads, for example, like the interactive old spice ad on vimeo. Immediate ROI? No. Massive brand awareness? Absolutely.