Ruth also didn't have the benefit of the medical advancements we have today. There was no "rehab", no major surgeries. There were no big training facilities where he could spend the winter working out. There also weren't any(or not nearly as many) performance enhancing drugs, or any rules against spitballs or other ball-doctoring.
In 1920, when Babe Ruth had his first 50 homer season, hitting 54, the guy who finished 2nd("Gorgeous" George Sisler)....hit 19. When he retired in 1935 with 714 homers, the next closest player at the time was Jimmie Foxx, with 302.
His being idolized wasn't as much based on the fact that Ruth was a great baseball player as it was on the fact that he was so much better than everyone else in his time. His accomplishments truly did dwarf those of his contemporaries.
Is he better than Barry Bonds? No, probably not. But I have little doubt that if he played in this era he would still be a great, great player.