I like Disc Golf baskets as they are. Nothing beats the sound of your Disc hitting the sweet spot of the chains, which is accessible from all directions. (Love the sound a new Mach III made 20 years ago!) It's one of the intrinsic reasons why this sport is awesome.
I don't really care that holing out is easy compared to ball golf, to be honest. Our sport is more focused on the ability of our projectile to more easily traverse vertical obstacles. So we should have more of those if we think we need to make more skill involved in tournaments for our 99.9th percentile players.
(I too have thought about having just a hole in the ground, and you've gotta make your Disc end up in it. It would surely cut down on the price of installing courses, and it would still make holing out objective! Hmmmmm.....A nice big fat flag pole in it, too?...I often joke with my friends about making a "Lard Basket" just made out of a column of lard. Your putter has to stick to it to count...)