As an old person who plays Genshin Impact, the “character banners” are 100% loot boxes. They have a pity system which guarantees a five star character after 100 “wishes” but even then it may not be the character you wanted. You might have to “wish” up to 200 times to get the five star character you are “wishing” for on the banner. Since you are not buying the character out right and gambling to get them it’s a loot box.
For anyone who doesn’t play “character banners” are a limited run (3 weeks) of a five star character that you can only get from the banner. “Wishes” are like rolls for the character. Each wish you lose gives you either a weapon (3 star/practically useless in game) and every 10 wishes gurantees a four star weapon or four star character.