President of Marvel Studios, Kevin Feige, had this to say regarding Ragnarok’s humorous tackling of the Easter egg in an interview with SlashFilm:
“As we learn in this movie, [Odin] banished his firstborn daughter because he sort of got what he needed, he got to the top of the Nine Realms and it was like oh, this is much too violent. And Hela says, glad to have it, ashamed of how we got it. And we see that mural in the movie of [how] it was not a pleasant history of how Asgard got all that gold.
“So Odin has a history of doing what he wants to do to maintain power. And going back, I mean, now it’s probably five years ago we started again just in our internal creative group saying, ‘Well, it’s fake.’ Because if the Asgardians knew that there was something that had that kind of power, that could theoretically wipe out Asgard and whatever else with a, in the comics, a literal snap of the fingers, they might question Odin’s ability to protect them. So Odin put a fake and he goes, it’s fine, I got it. Look, it’s fine, it’s in our vault, don’t worry about it. And it’s not until Hela goes down there.”
Hela enters Odin’s vault and upon seeing the Infinity Gauntlet, tosses it aside and denounces it as a fake, which Feige and those at Marvel Studios had planned since Phase One. In one swift stroke of the pen, the MCU continuity (Earth-199999) was relieved of a single burden of the plot in Thor: Ragnarok.