In my opinion, the award ceremony speech by the Nobel committee overlooked the hidden meaning in the deepest core of the Glass Bead Game. His book presented profound ideas at many levels, but his subtlety seemed to elude the committee, and all reviewers.
From a proper gnostic viewpoint, which encompasses physics, theology, and philosophy, Hesse understood that the palpable universe is a projection, or emanation, to use Kabbalistic terminology, of the Mind of an occult Supreme Being, who actually is the Magister Ludi. This Being is the Paragon of all the virtues sought by the human Glass Bead Game players. This Being treats every object, every thought, every being, every quark, in the universe as beads in His game, and the incredible metaphorical relationship among everything, assembled into a grand Game, which is the universe we (dimly) know.
This mini article is a stub, to be expanded on as a chapter in a forthcoming book.