I mean, my religion isn't 100% contractual. Because I believe that the gods can and do have compassion, and do display it towards humanity; but they aren't omni-benevolent, just as they aren't omnipotent. They are fickle with their cares and desires, just as any intelligent thing is, and they are more restricted in their power than the classical monotheistic conception of a god.
And, there are cultural facets to contractual theology that one must consider. Yes, on a purely practical frame of mind, it is good sense to court the favour of a divine being by respecting it. It is, after all, more powerful than you. But in Hellenistic society, for instance, reciprocity and hospitality was a huge deal, as was the relative placement of one's station in society. Respect for those above you, and gentleness towards those below you, was a virtue. And that meant respecting the gods, because they were at the top of the food chain. It also meant that if you invited them into your home, as one did through household rituals, one must give them honour and respect as guests of great standing.