O.K...
seems that we agree we don't look at the far end of the runway to judge height when doing wheel landings..
..so lets think about landing a helicopter on a very small pad, do we look way out in the distance to judge our position, height, and velocity for touch down on the pad?
...I have been involved in the odd airshow display and find that accurate height, attitude and velocity judgement is your paramount concern..so lets think about a ribbon pick up in the normal or inverted attitude...would you look way out into the distance at the far end of the runway to be in the exact right attitude and height to pick up the ribbon instead of smacking into the ground?
Chuck E.