As demand capture, no. Banner clicks are cheap because intent is near zero, and click-based conversion from cold display is famously poor. As cheap visibility with a specific job, sometimes: retargeting past visitors, staying present during long decision cycles, or blanketing a small geography before a season.
YouTube follows the same logic with better storytelling: skippable in-stream ads cost pennies per view and work when you have something worth showing (a process, a transformation, a face people will recognize later). They build the brand searches you harvest in search ads next month.
Sequence for owners: search profitable first, retargeting second (small budget, warm audience), cold display/YouTube last and only with a measurement plan that doesn't pretend view-throughs are sales.