Is branding dead, or just need to be redefined?

Hugh at Gaping Void gives us the top 9 reasons it's dead.

Number 4:

"Branding" is backwards looking. It's all about capturing past associations. It's never about what the business could become, but protecting what came before.

But an astute reader who works in branding counters convincingly in Hugh's comments:

brands should never be backwards looking, but tell the people - as you say - what the product is for. Make a promise and keep up to it.For me, the bradn itself is the key to the conversation between the companies and their stakeholders. It's like the common base for the conversation/discussion.Could sound like this:Company: "Hey, we know your problem and have a solution that's calles XYZ (the brand)."Customer: "Nice, but your XYZ lacks ...., fix it and I like you more."Company: "Ok, now we know better what you mean and will try."