It just seems so far removed from what Wagner had in mind.
Well, you know, authorial intent is a difficult issue, not only because it's impossible to determine exactly but also because great works of art take on a life of their own. Indeed, their greatness lies often their ability to convey meaning beyond the literal ideas of the author. A perpetual repeat of the original Hermann Levi Ring from Wagner's time would a bit boring after a few centuries, don't you think?