I don't.
I don't think U2 "tear through the song" every night or treat it poorly. Having seen four U2 shows this tour, I can say that some were as inspirational as the ZOO TV days.
The MJB version was awful, IMO. She took this pleading, heart-wrenching song, that Bono purposely sang with a scratchy, broken voice to add more depth, into a song filled with vocal acrobatics and "diva-ness". It just didn't work. This is NOT a gospel song. She wants to belt out "I Still Haven't Found..." go for it. But not "One".
However, U2 haven't mistreated the song in that capacity.
The fans here - and this DOES include me - are a bit bored of the song the same way we are bored of "Pride" and other staples. We've heard the song again and again and again. It's a great song, and U2 have given it lots of meaning by associating it with charities, but most of us would rather hear another song at this point. U2 seemed to have dropped "Pride" for the most part this tour. It will be great if they also retired or at least semi-retired "One" - at least for a little while.
As for the meaning of the song...
I think originally it was inspired by U2's transition at the time (from JT to AB).
I also think it was inspired by the dissolution of Edge's marriage (as were many songs on AB).
Fans later gave the song the AIDS meaning, and Bono agreed. I definitely recalled reading this back in '92 and I think he even said it in some interview. However, this was not the original meaning, but one interpretation that Bono liked.
Larry has argued that one aspect he loves of Bono's lyrics is that they can have many interpretations. And for that reason, the band rarely talk about what a song is truly about, preferring to have fans have their own interpretations. That said, Bono has at times talked about what a song is concerning or inspired by (such as "New Year's Day"), but even then, his lyrics often take on other possibilities.
The multiple videos also suggest numerous interpretations. So I do not believe this song was about any single person or event, but a combination of items. That unversitality is what makes the song so powerful and one of Bono's best in terms of lyrics.
Still, I could do without a performance on every tour.