That actually makes a lot of sense, I've only ever played NTSC Sonic. In that case it probably sounds great at the right speed.
Thanks for the insight!
EDIT: In fact watching the video at 1.25x makes the music sound substantially better. I think that's too fast[0], but either way you've nailed the issue I had with it. I'm eager to hear it "as intended".
[0]: I listen to podcasts at 3x speed so my sense of the "right" timing for audio has definitely weakened.