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Exactly. Like I get that some people learn slower or some even just have a mental block when the word test is used even if they know the material. So for them homework is important. But if it's not actually benefiting a student then why punish them for not doing it? The system my one teacher had where homework wasn't graded unless the grade would help your overall grade seemed to work really well but it could probably be improved a bit because it did primarily just benefit those who were good at tests.

The best solution would probably just be something along the lines of having the grade be made up 4 point pools; tests, projects, classwork, and homework. Then just have the overall grade for the class be an average of the top 3. As long as you're doing well in 3 of those pools then you clearly know the material. Some students struggle with homework for already stated reasons. Some students lock up on tests even though they know the material. Some students have a disruptive homelife that inhibits their ability to work on larger projects. Some students have health or family issues which frequently keep them out of class. With this solution, none of those students would be punished for one of those issues alone provided they can still demonstrate in the 3 other areas that they know the material.