Since I am the one who implemented the Share Ratio display, let me offer you my perspective on this issue.
As I see it, there are two main purposes of this feature:
(a) to quickly identify all files that you've uploaded for instance 4 times, so you can unshare them (to do this you can simply sort by share ratio)
(b) to easily keep track of how much you have uploaded your own releases
For both of these functions, the "upload / file size" formular is much better suited than the "upload / download" one is. For (a) you really don't want those "downloaded one chunk and uploaded that chunk 5 times" files to be listed among the completed files that have been uploaded sufficiently, when you sort by share ratio. For (b) it's even more obvious, because your own releases will all have a download of 0 and therefore an infinite share ratio. Yes, for those files you could actually use the file size then instead of the amount downloaded, but I think using two different formulas would be a bad idea.
So in short:
It's a not a bug, it's a feature! 