Banshees certainly have their place. It was the perfect quad for my wife, she's a decent rider and very competative, so she always wanted to be the fastest one in the group. But her idea of "fastest" was the fastest machine, not the fastest rider, so she was looking for all motor, while the handling and ergonomics were secondary. But she didn't want a drag racer, she wanted something she could still ride with the group, then pull out ahead when we came to a flat open section.
That's a banshee in a nutshell.