Lorentz transformation is an important part of our world view. It is a must in every relativistic and unification al theory, to say the least.
Its physical interpretation is incomplete, I believe.
Issues
It is (provides) an explanation of measurements of different observers moving at different non accelerating frames but still the theoretical dept of this idea is shallow. Open Qs
**What kind of this object's isomorphism to reality is?
**In what physical ground does it serve reality , i.e time distortions (dilations) have some deeper physical rationale?
I believe more research should be aimed at these questions as it would provide valuable insights to the other questions of modern theoretical physics and power progress on current cutting edge research.