Ring out the old

At the Met's Gotters last night. Again, the difficulty being the powers of the Ring. Wagner invests immense but unspecified power in it; if you have the ring you can rule the world, but the intermediate stages aren't spelled out at all. The details are able to be fuzzed only because the ring isn't held for any extended period by anybody who wants to rule the world; the Rhinemaidens apparently aren't interested in world rule, Alberich wants to rule the world but loses the ring to Woden before he can act on it, Odin loses the ring to Fafnir ditto, Fafnir is apparently lazy and just wants to sit on the hoard, Siegfried takes the ring from Fafnir but is too happy-go-lucky to care about world rule, Siegfried gives the ring to Brunhilde who just wants it as a token of love, bewitched Siegfried grabs the ring back but is still too stupid to use it, Hagen wants to rule the world but can't get the ring off Siegfried's corpse, Brunhilde gives the ring back to the Rhinemaidens; nobody ever puts the ring into its neutron bomb/magnetic pulse/deathray mode. What would Woden have done with it if he had it?