If biblical scripture means what it means, why is man divided on its interpretation?
If the bible is divinely inspired and god meant exactly what he meant, then why is it that man has to interpret what god meant?
While it is unclear on the precise meanings Jewish authorities attribute to your latter two hypotheses, we all understand that Torah is designed to have multiple meanings. That it is designed to be interpreted and re-interpreted, and that the right and duty to do such interpreting and re-interpreting is a fundamental element of our side of the covenant of Sinai.
The idea that the text should only have a single, universally-agreed-upon meaning that is plain to all is simply a foreign notion to Jewish thought.
As for the variations in meaning of the text of the Torah as understood in other religions, that has nothing to do with us or with God, since we believe God gave the Torah to the Jewish People alone: it was never intended for non-Jews, and therefore whatever meanings they impute to it are their own affair, and have nothing to do with the inherent and exegetic meanings of the text as conceived by its author(s).