Yeah, but it's still limited to creating solid light constructs imagined by the wearer, yeah? It can't bend reality or anything, right? (honest questions, I'm not a DC fan) That doesn't seem so overpowering to me, but maybe I'm missing something.I guess they could do the Superman thing and fly counter rotation around the world fast enough to turn back time, essentially time traveling. :}
With the ring being only limited by the imagination of the wearer, you would get something very close to unlimited wishes.
Anyway, I would say that those kinds of ultra-flexible powers is where MHR really shines. The character write-ups are more about letting the characters do what they do (whatever that is) and not precisely enumerating the exact uses and limits of each power set. People say it's also really good for teams with power disparities (i.e. pretty much every superhero team in the comics) but I haven't played with a group of heroes that were widely divergent in power level yet, myself, so I can't comment on it.