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This is not about original creatives refining their work. This is about rights-holding mega corps and moralizing busybodies intent on neutering art.

Don't mega corps just follow what society/customers want?

They follow what governments want in a merger of state and corporate power.

They cater to the lowest common denominator and would exclude any controversial art.

I'd agree, but the old version should be kept available.

Best example I can think of is Apocalypse Now. The 40th anniversary bluray released a couple of years ago had _three_ versions inside: Theatrical (1979), Redux (2001) and Final Cut (2019).

It is up to each creator. People are allowed to judge other people's actions. This is the same confusion people have with freedom of speech. You are allowed to say whatever you want, but don't be surprised when people judge you.