I agree, but also they broke that rule very recently when they lowered the price of a display and issued refunds one month after intro. The VESA price dropped $400. I learned about it from Accidental Tech Podcast.
https://www.apple.com/us-edu/shop/buy-mac/studio-display-xdr
When I first saw the prototype images I thought they were really cool and it was a bold idea though people on this site were complaining about it already for the predictable reasons.
When it came out I was thinking that they dealt with the legibility of the content by dialing down the legibility of the design -- like it looks like "anti-anti-aliasing" more than it looks like "bold transparent vision"
One reason I don't think I read it as "refraction" is that one of my tells for refraction is chromatic aberration and without that it doesn't seem real to me. I think it would triple the texture lookup rate (at least) and make content legibility worse and I think you would see a lot of people say it is was an ugly gimmick.
I do t think Liquid Glass is going to go away soon, Apple doesn’t seem to reverse itself ever, but I do expect Liquid Glass to become better over time. We’ll see what WWDC brings on that front I guess.