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The idea that single unique negative for a film exists that has been forever altered is ridiculous to begin with, but the suggestion that digital effects and alterations done were “permanent” is more so. Lucas and his BS was always this way. Maybe he even believes it, since he came out with this line with talking about THX-1138 a few years after, but y’know the guy is missing a few marbles.
The original version of THX-1138 really should be restored since George altered it so much with cgi. I wonder if he’ll have that one remastered in 4k as well. Lowry handled the existing transfer (the dvd was released in 2004 the very same week as the OT IIRC).
American Graffiti’s original version should be preserved if for no other reason than its historical significance.
Unfortunately, not enough people really remember THX enough to care about getting the original version (not the way people care about the unaltered Star Wars at any rate), and the alterations to Graffiti aren’t blatantly cgi-based so most people probably consider it “close enough” if they even know it’s been altered at all.