It's worth mentioning that it does need to be legible to continue to comply with the agreement. Can't have it be white font on a white background 🙂 .
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Taking off my IPS hat and putting on my community owner hat, I run a hobbyist community now for over 15 years. I don't think an actual member has once told me that I'm running Invision Community. Moreso, the branding is there for the target audience of community admins looking to start or convert a community and go "Oh, community xyz is running Invision, I should check them out." Otherwise, it means nothing and people move on.
As Matt said though, there is an option if it bothers you enough. There isn't an option on many other platforms 🙂 .