Take "welcome."[1] Well come. You've arrived well. You make a good entrance? Not a ridiculous thing to say when someone arrives.
What about in response to "Thank you?" You are welcome.[2] Huh? What does that mean?
Or, "you are welcome to take a second cookie." How does that translate into "I do not mind if you take a second cookie?"
[1] Welcome translates quite literally in other European languages. For example, in French, it is bienvenue - bien: well - venu: came.
[2] On the other hand, it is much more common to say de rien (in French) or de nada (in Spanish): literally, "it's nothing."
The french "bienvenue" seems to be a too-literal translation from wiljakumo [0]. A similar construction is missing in Latin.
An example that comes to mind is the oversimplification that happens when people say that the word "aloha" means "hello" and "goodbye". It only sort of does because that's how it is sometimes used. Really it's a whole concept that is unique to Hawaiian culture that would more accurately translate to "beloved" or "cherished".