I think token ring is a data link layer technology that controls transmission access over the physical connection. Like early non-switched Ethernet, computers are connected in parallel to the same wires but instead of collision detection and random delays, which caused congestion and serious overhead on busy networks, a "token" is passed around and determines the right to "speak". Everyone listens at the same time and starts receiving packets when addressed. If the computers were literally wired in series like a looping daisy chain, the failure of one would destroy message propagation. Instead, if the token-bearing computer or disconnects from a token ring network, the token is presumed expired after a short while and a new token-bearer is chosen. It's like a kindergarten activity where you sit around in a circle and need to hold the ball to speak, passing it around. It doesn't matter who you're addressing, you can even broadcast, but that's handled by a higher-level protocol.

As for memos, I have never used them and they seem extremely inefficient.

Edit: looks like Token Ring is actually more physical than I thought, with special cables connecting computers in series, so you may be right. That sounds really stupid as a thing to build a network on, it's easy to cut it in half by disabling just two computers, antithetical to the internet's resiliency principle.

Edit edit: my original understanding was right, the literal cable ring is obsolete for good reason. I still don't get the role of a MAU in the star topology unless it's just needed for old NICs to understand virtual tokens.