I can fully understand the gratification arguments for covers bands (and the money!) I remember my originals punk band playing at a Punkfest in 2009, playing well, doing our thang to a mildly appreciative audience. Next up is a '70s punk covers band that launches into London Calling, followed by Bodies and the audience went completely mental ....
So far I have only ever played in originals bands (bar one cover with my last band Rattlin Bone of an obscure blues song) and it does give me a huge boost when you get complimented on a song that is all the band's own. To be fair I am lucky in my current band as it has some very good songwriters as well as two amazing (and photogenic, ahem) lady singers.