Yes, agree about the yearly fee, though apart from my platinum Edge card (great supermarket and petrol earn plus $200 travel credit) and a no longer available ANZ Travel adventures card (no forex fees), I rarely keep a card longer than 1 year anyway (see my comment about signup points) for exactly ths reason that benefits dont justify the fee. So annual fees are offset by signup points, plus CC insurance, lounge benefits (sometimes) etc.
I think each CC needs to be assessed on a cost/benefit basis and for me, this definitely changes post year 1.
