Basically, if a couple has valid reason to not have children right now, then a pill that prevents menstruation is fine.
Judaism regards having children as a mitzvah, though (as in many things in life) it's complicated and there are caveats. It's recommended -- and according to some, required -- that a couple consult with their rabbi first before using birth control. Note that in circumstances where pregnancy would be highly harmful to the mother, Jewish law may allow and even require birth control.
Of the various forms of birth control, "the pill" is actually considered among the least-objectionable methods, assuming it's medically indicated for this particular couple. (Older versions of the pill often caused breakthrough bleeding, which was a problem as it created a nida status; this tends to be less of an issue today.)
"Wasting of seed" is a moot point. (And I'm somewhat annoyed that people get the wrong idea about this, perhaps with biases from some Christian views.) A husband is obligated to physically care for his wife -- whether she's fertile, pregnant, postmenopausal, or whatever. Whether it's likely to impregnate or not is irrelevant; marital relations are never "wasting seed."
As for philosophically and "what was intended by the Torah" or the like, I can refer you to yoatzot.org and the like; basically, we apply the law as required; it's not our job to extrapolate and cause conflict with marital harmony, which Judaism values highly.