You are not wrong. The shoes work. But they still look and feel like "shoes." This is why there is no psychological barrier to accepting them.
If they had coil springs on the bottom, they would have been laughed off the track. But because it is a leaf spring (hidden in really good foam), they still look like shoes.
The other thing is, they work, but not too well. If they had caused the 1500 record to drop to 3:10 or something, they would never have been allowed. But instead, it seems like they allow you to train harder and race closer to the limit of human potential.
That still seems to be about 3:26-3:30. We will have a lot more times nearing the limit of human ability, but the shoes haven't cause the records to drop in the 5000m or shorter distances. In the late 1990s we already had 1:41, 3:26, 3:43, 7:20, and 12:39.
Given that all those times are still utterly world class, you can argue the shoes don't even matter that much (they do).
The fact is, they allow a lot more people to get closer to that absolute limit of human potential. They don't seem to be so good as to allow us to step into totally uncharted waters. Because of this, they won't be banned.