As pointed out above, Shakespeare isn't considered great just because of his story lines and characters. Most of the dialogue is poetry. Heightened language. Not mere colloquial jabber.
Do we need to provide contemporary vernacular versions of Byron, Shelley, Keats, Frost, cummings, etc., too? And for prose, how about translations of Dickens, Austen, Eliot, Melville? They can be difficult to understand, too. And why should a reader/audience member ever be expected to do anything that smacks of "work?"
I do admit that it might be fun to hear Hamlet spit out "Should I live, or not? That’s the question – am I better off if I just take whatever life throws at me? Or should I open a can of whoop-ass on all that crap and give it the KO?"
That's almost as poetic as the original, and so much easier to understand, right?