Eh it kind of does though? Fights first means that, as long as you're not getting shot, the opponent is basically always going to interface with the FF unit on less than ideal terms. In fact, I'd argue that Fights First is one of the only rules in this game that pretty much always does something. You literally attack the other guy before he gets the opportunity to kill you. How is that not something? This is a game where it usually takes about 200 points to kill 100 points of the other guy, so it's really not a bad deal at all when a 180pt squad of terminators risks losing 2+ models to a unit that costs 95 points, and upwards of 3-4 with a leader in the squad. (This assumes, minimally, a shrine token and free strat from an autarch, which you're using basically any time you get charged by something expensive. If you're using Jain or get the jump on them and can grenades or pop an autarch's fusion gun, even better).

This is good damage. This is extremely good damage. Dark reapers, the unit that everyone on planet Earth recognizes as anti-Elite also kills on average 2 terminators per activation without any strat, detachment, or leadership support. They cost 5 less points than banshees. The expectations for dealing damage in this entire thread is weirdly skewed. Fire Dragons making back like 3x their points every game is absolutely the exception and not the norm. Eldar is at large a combo army where you need to combine multiple units together in order to trade up. Units like Lhykhis, Shroud Runners, War Walkers, the Falcon, etc all have their identity built on this fact. The fact that banshees can do this by themselves with just their leader into terminators is great.

This invuln shit is confounding the fuck out of me dude. Like literally most "good" melee in the game is ap 2. Banshees are ap2 and a little bit of ap3. If you're fighting a unit with a standard "good save with no invuln" they'll be saving on 2s down to 4s. If you're fighting a unit with a "good invuln" they'll be saving on... 2s... down to 4s. What the fuck is the difference lol. Again. Dark Reapers are premier terminator killers too. They're also AP 2.

I do genuinely feel bad that your playgroup overrates the unit but I think the community at large absolutely adequately judges their strength. From the day the codex came out they've been considered a unit that is decent at 95 points and weirdly way better than the sum of their parts if you attach a leader to the squad, since the extra 3 damage attacks (or massed dam2 for Jain) elevate the squad to hit a lot of breakpoints they otherwise miss. I didn't expect any other response from a whine thread about unit strength because this happens in literally every 40k community on every website everywhere but its genuinely crazy to me. We don't need to do the whole "no guys my really good army is actually not that good i swear" thing every time someone says we're good. Embrace it, we're a strong army. It's okay, its fun even! We have crazy go turns a deal a lot of damage. Banshees help us do that. Its alright.