The "twilight of the gods" that gives Ragnarok its familiar English colouring is not, on the more careful philology, quite what the Old Norse says. Ragnarok most literally means the fate, or doom, of the powers; a variant spelling, ragnarokkr, can mean twilight, and the two were run together early enough that the poetic, dimmer reading became standard well before most English speakers ever met the Old Norse text directly.
The reading was fixed for the modern imagination by Richard Wagner, whose opera Gotterdammerung, "twilight of the gods," concludes the Ring cycle first performed complete in 1876. Wagner worked from the same Eddic material and from the Volsunga saga, and his title, more than any philological argument, is why English still reaches for "twilight" rather than "doom" when the word comes up outside specialist writing.
Contemporary Heathenry, the modern revival of pre-Christian Norse and Germanic practice, generally does not treat Ragnarok as a prediction to be awaited literally. Practitioners more often read it as a mythic pattern of cyclical destruction and renewal to be reflected on ritually, in something closer to the way many modern readers treat apocalyptic literature generally, than as an event with a timetable. That is a live and stated difference from how some medieval audiences may have received the poem, and from how a smaller number of literalist strands within modern Heathenry read it now, which is itself an internal disagreement rather than a settled position.