EMD domains will be all the rave in the coming years.
Right now, every day that goes by development becomes cheaper and cheaper. An EMD domain that is fully developed for its niche can spring very quickly to the top of google for the keyword the domain is good for.
People will realize (some already have) that you can generate monthly more money off your exact match domain than you would get from selling the domain. The key is, development is becoming so cheap and so much easier that people will do this.
There will always be those buying brandables, less money will be around for them thou as the start up market is declining, some argue it is about to crash.
Invest smart, if you have 5000 bucks and you can pick a brandable (meaningless) 6 letter or so word, or a two word EMD that has a 2+ dollar PPC, grab the EMD (as long as its dot com, no hyphens or numbers). With an EMD you at least who do outbound market to if you need to sell and you can setup the site too and make money, be it via adsense, affiliate programs etc.
The people who claim google gives no priority to EMD's (emd's that are dotcom, no hyphen and numbers) are not speaking the truth. Sure, an undeveloped EMD with a landing page is of no value, however if it is developed with something of value especially if it has updated content often (that is not copies from somewhere else) you will be shocked how fast it will move to page 1 and be top 5, think about the value of that when you try selling that domain.
If I had the time to focus on many things I would develop out all my domains that are EMD. However, I am selling off all kinds of domains including some 4LLLL and EMD's so I can focus on development of a few.
Agree with most of what you said apart from brandables being meaningless.
Brandables are carriers, or vessels that can create entire stories in our minds. Even those that are slightly descriptive still play on our world and thoughts.
If an EMD is used for capturing traffic then that is a powerful tool, no one can deny that.
If an EMD is used as a brand name, the business has to understand that they are bound by what that name suggests, it is not a vessel that can be filled, it is already decided.
Brandables (brand names) are always going to have a demand, startups need them. Admittedly, having an new word brand does need money behind it, so that the picture is fully built and the 'word' is telling the brand story as it should be.
For example think of these two names:
CloudServers
SpinalCloud
The first obviously offers cloud servers, but what else? Where is the journey, the collaboration, the storytelling.
SpinalCloud evokes connectivity, signals, data, movement and more than that, it asks us to think, to find out what is on offer from this business.
CloudServers will always be cloudservers. spinalcloud can become the hallmark for quality, innovation and even become a new slang 'did you get spinal!'...
Two very different worlds EMD and Brandable.