This is all absolutely correct, but what I feel it misses is that the mythic power of the story lies in our enjoying it, reading it naively. In other words we deliberately read it ourselves in repressed mode. If we read it the first time with the kind of clarity suggested here then we don't actually feel its power: we are merely interested - rather than complicit.
Astute observation, succinctly put. I would additionally add that it also works the other way; if a story's themes and metaphors are too clear before the story is over, it can damage suspension of disbelief and hurt enjoyment. This is one reason why the typical teaching methodology of a US high school English class typically has the effect of blunting the enjoyment of classic literature - students are not usually giv…
I certainly read all of my assigned texts an din the case of classical studies several other books and plays in the cannon.