But words have meaning, er, at least they used to. "I literally exploded" is not accurate, as they didn't actually explode. Maybe "I laterally exploded"? That word would work equally as well as it still makes no sense.
The insistence that simple emphasis is a valid use for "literally" -- and quoting M-W or the OED to support your case -- is just as prescriptive the insistence that it doesn't.
Language is socially constructed by the people using it; we all "vote" by using it, and by policing its use.
So let me ask you this: Do you want "literally" to be a meaningless emphasis word (and thus lose its ability to specify "this actually happened")? Or do you want "literally" to mean "I am not speaking figuratively, this thing actually happened"?
If you want the former, then I disagree with you, but sure, go ahead and use your "vote" to police people objecting to "literally" meaning "figuratively". But if you want the latter, then join me in insisting that it means "this actually happened".