Step into a time machine: welcome to Amsterdam in 1922, in color and HD

The original pictures and videos may have been limited in resolution (spatial, temporal, color), but they are an actual sample of the reality that was at that time. They may be missing things, but what's there was there.

The "processed" videos are made up. By an algorithm with limited to no contextual clues, no less. The algorithm was trained to make things look real, it does not know about things making sense for the place and time. Some details, colors, movements may have been counterintuitive in reality, they may even have had a "fake" seeming look by today's standards. The algorithm does not know that.

I am not discounting the value of those interpolations. The processed videos do give you a better idea of what life was like. By making it feel more "real", you can connect much better. It makes the past seem less abstract. They do still convey the fact that a train was there, or that people were wearing hats (as another commenter pointed out).

But they are not historical documents. It is important to the documents as such, essentially as dramatizations of the past. Do not try to draw conclusions from individual elements of what you see, they may lead you to the wrong conclusions.

Find people from the same region today, ideally descendants of people who were in the video, and deepfake their faces onto the video. Possibly go a step further and find period clothing, and deepfake the clothing in higher resolution onto the video. Or at least get samples of the materials and use that to deepfake improvements to the "resolution" of the video. Could do something similar with the audio.