reading shakspere

I just don't really understand why we read shakespere.  I mean actually seeing it is...what it was meant for?  ok its written in english, or so they tell me.  When you actually see it happen it makes it easier to decipher by far.  But i just don't see whats so great about it and why hes considered a great writter.  most of his plays are just him re telling folk lore and norse ledgends.  And he wasn't even popular during his time.  His plays were mostly made for the common man seein as it cost a penny to see a play there.  I mean it'd be like if in 450 years people studied stephen king.  Oh well