And this ^ highlights what this discussion seems to have ignored, which is that the drivers for gigging are (or at least can be) wildly different depending on whether you want to play covers or originals.
My own very limited experience is that I've played in several covers bands, and I've played as sideman to several songwriters. I don't actually write any songs myself.
Within that very limited experience, covers bands seem to form with the specific intention of playing gigs in exchange for cash, while originals bands are more about "getting our music out there" and tend to be satisfied with a much smaller number of gigs, usually involving payment in the form of three beer tokens for each band member.
There's no right or wrong here, no better or worse, but the two approaches are as similar and as different as driving a car -v- riding a motorbike.
Personally, I really enjoy rehearsing and I simply love working up new material. Despite that, it would never occur to me to join or form a covers band unless there was a very serious intention to get a significant number of gigs - I'd see one a month as a bare minimum. Rehearsing is fun partly because it is intended to lead to a performance; rehearsing for its own sake would get very stale very quickly.
I am still a member of both King Ralph and Karena K - originals bands. Those two bands together have generated maybe 10 gigs in the last two years. That's cool too, but only because I play another 30/40 gigs a year with covers bands!