I feel Banjo fans and Steve fans definitely symbolize the differences in generations:
Banjo fans want him largely because of the nostalgia and fondness they have for him from their childhood from the N64 era.
Steve's fans want him because they have nostalgia and fondness for him from their childhood.
Basically: These things are entirely filled with bias and every argument about Banjo VS. Steve is pointless whenever it boils down to you trying to change someone's mind. Neither of them are "right" or "wrong" to want or like, it's up to the individual and what they like. I'm gonna be honest here: I don't care about Banjo all that much. He'd be neat, but I would not jump out of my seat for him. I didn't grow up with those games, and so far, Nuts and Bolts was the only one I've played, so I don't have too much of an attachment. Steve, however? I played Minecraft back in it's earlier days, and play it even to this day. So yeah, not at all a popular opinion here, but I would truly feel more excited for Steve than I would Banjo. Does that make Steve better? Heck no, it's just my own taste and wants. I have no issue with people not wanting Steve, and I know full well what the reaction here will be if it happens, but I also think it's good to remain polite when discussing this stuff. Not saying any of this is going on per se, but these types of debates tend to get heated and that genuinely makes me sad. I really wish Steve didn't cause so much strife within this community.