In Germany they did the same thing with many of the classics:

Snow White: First dubbing made in 1938, but not released before 1950; second came out in 1966 and was used until the last theatrical release in 1992 and the third one (and the only one available officially) was made for the VHS-release in 1994.
Pinocchio: First version is from 1951, the second one from 1973
Dumbo: First dubbing made in 1952, second version in 1976
Bambi: First released in 1950, the second dubbing is from 1973
Cinderella: The original dubbing from 1951 is still used, but the introduction and the choirs were changed in 1980
Lady and the Tramp: First version came out in 1956, the second dubbing is from 1975
101 Dalmatians: The first dubbing is from 1961, the second from 1980
Winnie The Pooh: The three shorts (Honey Tree, Blustery Day, And Tigger Too) have been dubbed individually. Pooh’s voice in “The Honey Tree” has been changed in 1971 due to the death of the original voice-actor to have the same voice in all shorts. The combined “Many Adventures of Winnie The Pooh” weren’t released before 1994 and got an entire redub with the same actors from the 90s TV-series.
The Little Mermaid: The first version came out in 1990 and was released on VHS one year later. The new version has been made for the re-release in 1998 and people always hated it. After only releasing the 98-version for 15 years Disney finally had a heart (or Dollar-signs in their eyes) and put both versions on the Diamond Edition again. Today they also use the old version for TV-airings etc.
Aladdin: Just like in the English version some dialogues were changed. This happened already before the 1993 theatrical-release, however they accidentially put the “uncensored” version on VHS and Laserdisc.

There are some VHS-bootlegs from the 80s and 35 mm-captures floating around with the old versions that haven’t been released officially by Disney. But other than for “The Little Mermaid” it doesn’t seem they’re interested in releasing the old versions again. They still have them (I guess they’ve still got the Danish versions in their vault as well), but as most people have no knowledge at all that those versions even exist they rather save the effort to release those old dubbings. The situation with TLM was different: Many people had the original version on VHS and also loved those voices from the TV-series and wanted back the version from their childhood, so the pressure was much higher than with the other films where even the “new” versions are already mostly more than 40 years old and not many people will remember the original dubbings anymore.

But they’re not even correcting the mistakes on the official Blu-rays (Mufasa-cloud in “The Lion King”, mixed-up sequence in “The Little Mermaid”, missing words in several other films) and just doing repacks over and over again while corrected versions have been released in other countries.