That's not true. Playing the quest this way will get the ring uncursed, but for the uncursed ring to be useful you need already be a werewolf. However if you start the Hircine quest and never finish it you'll have the cursed ring which supposedly will randomly change you into a werewolf. Never tested it, though as I just played the quest and never shapeshifted during it. Also a big drawback would be you're not able to wear any other rings.
It didn't even give me the ring uncursed. It took it out of my inventory after the quest was over and I was looking forward to it. I thought it was because I wasn't a werewolf yet. I went back to a previous save so I could do the quest after I am a werewolf and see if the bug goes away.