I think if you pretend the Joker is an "unstoppable supernatural force"*, then he will indeed appear more menacing. But menacing isn't the same thing, necessarily, as "interesting." But you also aren't writing the Joker anymore. Morrison did genuinely new things with the Joker, but they were always things that you could say fit the general pattern of Jokerness.
* as the skeptical review at Too Dangerous for a Girl put it.