I do agree with some of what you say.

But take the example of Stagecoach Newcastle's 39 and 40 - this service was not 'branded' until fairly recently and even now they're still technically in Stagecoach livery - albeit in green rather than the 'normal' colours. This service was as popular when it wasn't branded as it is now - it's managed to gain enough passengers to operate to a combined frequency of up to every 5 minutes (which I think is the most frequent bus service in Newcastle?) without branding. That's probably just down to the route it takes, but I suppose that just shows that if you can choose a route correctly and provide a good service, you won't need gimmicks to attract customers.