Umm... huh? I know what you're talking about, but haven't a clue what you're asking.
Anyway, since you asked, I'm going to give my opinion. The way I read it, Ask and Embla existed, and had life, but were weak creatures, not even worthy of the attention of the norns (i.e. lacking fate or destiny), when Odin, Hoenir and Lothur came upon them. The gifts granted by the Allfather and his brothers were that spark that set us, as humans, above the animals. Soul/spirit, the ability to envision things beyond the here and now; Blood and the flush of life, the ability to recognize and use our emotions consciously; Sense, the ability to perceive things in a rational manner. In other words, they didn't exactly create us, but made us what we are.
If you're asking why they did so... Fucked if I know, man. I think that's one of those totally unanswerable questions. They were bored, they wanted to people to play with, they were fated to... too many possibilities and no information to go on. To me, life is an end within itself, I guess. What is, is here and now. What will be, well, it will be and there's not too much point in worrying about it. Even if I do worry about, but more in an intellectual curiosity kind of way, then an "Oh shit, I hope I don't go to Hel" kind of way. Hopefully that made some kind of sense.
Now, those explanations are purely pulled out of my ass, I won't deny that. I possibly have it all ass-backwards, that is reading an awful lot into a few lines, and I still don't have a really great "cultural reference" sense. But it's the best I can do to explain my sense of these things. It makes perfect sense inside my head, but something gets lost in translation when I try and write it down. Insert standard stoner philosopher disclaimer here.