The absurdity is yours. It's true the ICEL took the words "pro multis" out first in emulation of Luther. But Rome has put its imprimatur on the change and allowed this to stand.
Your problem is that you believe the Latin original matters. It has long since been superceded by facts on the ground. And the facts on the ground are the Masses actually attended by people in the real world, not a Mass that exists nowhere except in Mother Angelica's monastery.
Pyro: The way I read the Latin, it seems to me that "Mysterium Fidei" is describing the entire consecration. ICEL, of course, deliberately breaks this up.