Re is Mike’s revisionist, well it depends how you want to define it.
An IB Tech print cannot block 100% of the projector light at normal projection light levels, there are no true blacks in a cinema, so if you feel that adjusting black levels to be lower than the black levels in a cinema, then pretty much all restorations I’ve seen so far would be revisionist under that definition.

I think with Mike Verta, he has said outright that his is a restoration, not a preservation as such. He is layering prints to end up with a grain pattern that would never have been seen in any cinema, and has effectively re-created the crawl and recomposited other shots in his videos. I believe he is trying to stick to using original elements, but improving them to a level that they theoretically could have been at in 1977.

When it comes to colour, unless you are sitting in a cinema with the print, and doing your colour adjustments based on that, and revisiting them again by watching the print etc. then the grade is going to be revisionist, from a certain point of view.

However if you take a straight scan, and do a ‘one light’ correction to each reel, then the scenes will keep their colour relative to each other. i.e. you can see that the background space colour is lighter in scene 3 than in scene 2, but darker than scene 4. You can see that the Falcon walls are more towards yellow in shot 27 than in shot 14. The presentation will reatin the relative colour and shade values that the original had, so you are closer to seeing how the print looked originally.
Your base might be off, but each scene maintains its relative relationship to each other scene.

Trying to get to the original theatrical presentation colours is a very tricky exercise.