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Tolkien himself stated that the whole of Arda was Morgoth's 'Ring'. As Sauron did with the One Ring, Morgoth poured his power & evil will into the stuff of Arda, in order to control it. This in effect restricted what the Valar could do to combat him. To destroy Morgoth would be to inflict terrible damage on Arda. It also meant that Sauron had an easier task in coming to power, as the evil of Morgoth had deeply infected the whole of Middle Earth.
If his Crown somehow symbolised the 'weight' of Middle Earth, then you have a point. The crown is Iron, the stuff of the earth. Does it somehow symbolise his claim to it - he wears Middle earth, symbolically, as a 'decoration', but at the same time he is crushed by its weight, & the Silmarils burn symbolically in the matter of Middle Earth which surrounds his head (his mind).
There is, I suppose, a question of whether the power of the Silmarils in some way restricted his evil, held it in check. He certainly becomes more isolated, dwelling deeper & deeper within the earth, & as his evil goes out into Arda he becomes weaker.
There is a similarity between the Silmarils blazing in the heart of the Earth, & some of the Grail legends, where the Grail is a stone from the crown of Lucifer which, as he falls, embeds itself within the earth. The story of Beren & Luthien is basically a Grail Quest, after all. The Silmarils are stones from Paradise, stolen & hidden within the Earth, & the Quest is about liberating the Light from within the Darkness of the Earth, &, incidentally, about liberating Luthien from the 'darkness' of the world - in the end she leaves the circles of the World with Beren. She is no longer bound to the Elves fate of endless serial longevity, & passes to a place where there is 'more than memory', which is, ultimately, all the Elves will be left with. being bound to Arda till the end.
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