Yeah it makes sense. The Cannondale one can't really unwind itself because it backs on to the bearing shield and axle spacers and the crank bolt applies pressure through it when you torque it all up. It's gonna creak if it's loose though.
I've stripped a HT2 style bearing cup from it unwinding itself up against the crank arm.
If there's nowhere for the lockring to go, it could damage its thread or the crank's, or both, but since it's a normal thread on the right crank, if it drags on the bearing or frame it should tighten itself.
Having had a lock ring on a pair of Rotor cranks fitted with a P2M spider come loose, despite using loctite, I think drowning it is recommended.