Banners represent exactly what it took to earn them. Rarely more, sometimes less...
When I rock my Lone Wolf, I feel the pressure to not go down and carry if need be. When I want a more casual shoot around with no expectations I go Dog or some other banner that shows I at least know my way around and can look good doing it.
I am gunning for my BoB right now. I can only imagine the expectations that come with that one...
I'm a so-so player who is as capable of being good and carrying a match as being awful and dying every three seconds. I have 22 out of 25 banners done (missing promotions, maps and solos).
In short, I am living proof that banners don't necessarily reflect skill - just perseverance.