And actually, no. The thing with those rings is that they may mitigate ONE type of damage, but they often leave out things like All Res, which can mitigate ALL damage. The Wyrdward pictured in the news section...Strength, Vitality, Crushing Blow, Cooldown Reduction, +XP, and Fire Immunity...no All Res. The Tall Man's Finger...Black Damage, Dex, Life Per Hit, Crowd Control Reduction, Cold Immunity...no All Res. You could equip BOTH of those, and you know what? You get a Thunderstorm Plagued elite pack? You're pretty screwed.
That's the idea behind those rings. You find one of those rings with the right mainstat, with some extra damage stats, and the one element protection that fumbles you the most? It'd be perfect. But if you have on two rings with All Res, you may take damage, but you're reducing it from all sources. Choosing one of these immunities isn't OP. Hell, choosing TWO isn't even OP. The amount of All Res you're sacrificing, especially with Loot 2.0 numbers, is pretty significant.
All in all, it's a tradeoff. I have NO problem with items THAT powerful being in the game...maybe they should just be really hard to get. Drop from only some extremely rare monsters that are buffed considerably in the power department so they're not easy to kill. But I really don't think things of that particular nature make the game trivial.
Removing theses rings was the right thing to do. You do realise you could swap to fire imunity ring when there was an annoying elite, and then swap to your dps ring for trash mobs, right? Blizzard hate item swapping, one of the reason they implemented paragon leves in the first place was to counter people swapping MF gear just before killing elite (which was boring and pretty much a chore to do). We're going in the right direction