Thanks Christopher, Sean and Jun for the insight. I find that it makes sense that the kata's purpose is to train the aikidoka on principles using the primary form as a baseline and ultimately learn to transcend it.
I suppose even though we don't learn any katas in Aikikai, I could still apply that principle when practicing each technique. To correct my form, master the function and ulitimately understand the principle behind it. Since it is agreed that Aikido principles are universal and applies to each of its techniques, it stands to reason that each technique no matter what the variation would show within it the principles that are to be learned.