The life IS in the blood and God says not to ingest the blood. Look Pan, believe what you want but you are only looking at part of what he did. Here is the full story...
Adam was made without sin, he existed in a state of perfection. He wanted for nothing... it was "as if" he was plugged into God. God was his source for everything... food, understanding, even fellowship.
Adam was given authority (dominion) over everything... all of creation. So when Adam sinned, first of all, it was "as if" he unplugged from God and now had to grow his own food but also determine on his own, what was right and wrong. In addition to those punishments, and those were punishments, is that he would now taste death, something he wasn't designed to do. The clock toward his demise was now ticking.... but not just his demise, ALL OF CREATION will one day die. Plants, animals, humans... even other planets and stars... ALL OF CREATION groans as it awaits its redemption (Romans 8:22). Why all of creation? Because when Adam fell all that he had dominion over also fell.
How do you reverse this punishment? The opposite has to occur. We had a perfect man who sinned and the result was death. So if we take a perfect man who doesn't sin, the result will be life.
The second Adam (Messiah Yeshua) was born without sin. Like the first Adam, he was tempted but unlike the first Adam he never gave in to temptation and thus when he died, the grave could not contain him. Why? Because the grave was designed for sin not perfection. So Yeshua rose from the grave and in doing so earned back the dominion Adam had lost. Yeshua has earned the right to perfect everyone and everything but.... he hasn't done it yet. We have an earnest (deposit/downpayment) in the form of the Holy Spirit (2 Corinthians 1:22 and 2 Corinthians 5:5) toward what WILL COME when he returns.
We take the cup and the bread in remembrance of this work he has done for us. His body was broken and his blood spilled to reverse the curse of sin and death. But he doesn't relive this week after week... if you believe he does... fine. I don't and won't.... the work is complete, it is finished... and when he returns he will apply what he earned the right to do and we will be changed.
Blessings and peace.
Ken