well yeah, of course they are. They're not teaching a norse history lesson. They're making a product to sell to the largest customer base they can. Of course they're going to include elements that will be most universally recognizable, instead of basing it on lore that only a handful of enthusiasts will get.But that's also the problem. There's so much interesting stuff in norse mythology but games just tread the same ground over and over again because the average person just knows about Ragnarok, and they want that "brand recognition."
they were also just as broad with their brush when it came to the greek stuff in the previous games of the same franchise, so this is hardly some new thing. They used the material that people who grew up watching Hercules; Legendary Journeys, Xena, and the various Disney movies, would recognize and understand. Because if they stop the action of the game every time something new is introduced, just to give you a history lesson, people will get bored. So without any context, they have to rely on customer familiarity to fill in the gaps of the backstory for the various players.