Ah, but to remove that meaning is a direct consequence of WotC's scaling of offense and defense. For the same level +/- X, there is always about the same chance of a hit (dependent now on the monster's "role"). In old D&D, creatures with more levels (thus more hit points) scored hits more often. Yet they were hit as often as ever by lower-level combatants.But make no mistake - people will also dislike a solution where most bonuses are gone. It removes the "meaning" of level or ability scores.
Do you begin to see the purposes hit points were designed to serve? If one has several times as many as a foe, then even with equal rates of damage dealing one has an advantage.