The further away from this basic framework we go the more dangerous it gets. Derivatives are not inherently antithetical to the basic framework, but they present new options and opportunities for market distortion that can't be ignored. We've seen how badly things can go, numerous times. And that doesn't even address the problems you get with wealth concentration, especially when your currency is untethered to some sort of commodity and can inflate more freely.
I'd like to see some real changes, but the problem is that the people who would make changes are so tied up with the market itself that any changes are superficial and often merely present new avenues of chicanery. It's not likely anything will be done, and when the next collapse happens, no lessons will be learned.