“A lot of things are mutar al pi din, but are still poor decisions that are out of touch with the ethos of Torah Judaism.”
Yes, but not this one. What you say applies more to, for example, hunting.
As already stated, there are real, legitimate reasons for wearing a wedding ring, chief among them being to signal a man’s marital status to those who don’t know him. Additionally, many men like to wear something tangible that they can look at and think of their wives when they are apart– almost like, lehavdil, a kippah reminds one of Hashem.