It holds up, because we can say it looks like The Joker now, but back then there were plenty of people saying it was absolutely unrecogisable as The Joker. "If you showed me this picture out of context, I'd think it was The Crow, not The Joker." And many similar such pics.
But yes, Heath Ledger looked more like The Joker than Tom Hardy looks like Bane. But The Joker has a much more iconic look than Bane. Ra's al Ghul's green cloak is his only recognisable piece of wardrobe in the comic, and the world didn't end when it wasn't carried over into the movie. And Jonathan Crane didn't need to dress up in a full-blown Scarecrow costume to be Scarecrow.
Well said.
This being said, I understand where people are coming from when saying Bane's look in TDKR will not look like the comic-book incarnation of the character. A valid point that you've touched upon in your post, which is so easily forgotten when it comes to this debate is that Bane's look from the comics is definitely not as iconic as the Joker's, what with Bane appearing in much lesser and even lesser known Batman storylines(apart from Knightfall). I think this is one of the reasons Nolan's taken notable visual liberties compared to the character's appearance in the comics.
Another important thing to keep in mind is that the movie hasn't even been released yet, so we can't make competent judgments on where Nolan is going to take Bane's character. As others have mentioned a few times, one of Nolan's trademarks and fortes with these movies has been his ability to keep the essence and spirit of the villains, despite the noticeable visual differences.
I think what I'm trying to say here boils down to this...I know that, visually at least, this Bane is a pretty radical departure from the comics. I actually like the comic-book version Bane as well and yes, there are visual characteristics that make him
the Bane of that universe. But you can't really say that just because his visual appearance won't be the same as in the comic-books, he'll be just some "random thug". Keep in mind that Nolan's universe isn't the same as the comic-book one, especially visually. Again, the essence is there and I'm sure that will be the case with Bane's character, even though he probably won't be as tall as in the comics. But I think the character will have traits that will make him
the Bane of Nolan's Batman universe, while still retaining the essence, as well as other certain traits from the character in the comic-books.