I'm not saying that we should go back to the days, when a round was counted by a knock down. What I am saying is that #1 too many people have a say in the outcome of the fight. #2 It OK to stop a fight when a fighter is unable to defend himself. #3 The significance of the fight should have no bearing on the interpretation of the rules. #4 And if the goal is make the sport more civilized to conform to the 21st century, well look around that ain't what is happening to its competition.
You want to conform to the 21st century, save it's reputation. And until fights can be seen by the public, the occasional observer as legitimate, and without outside influences. True or not that is a common belief of your average Joe. Why? Because a ref can stop a fight that doesn't seem to need stopping. (for example) We cant even do it with the Olympics,