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I don't think it is particularly revisionist, if that's what you are asking. Pretty normal stuff in terms of restorations. I think I would personally hold back on the contrast a tiny bit, but even there I am splitting hairs. It's always a matter of judgement to some degree when dealing with films this old, because no one can honestly say exactly, to the .1 percentage, what a film this old should look like because there isn't any material to work off. All of your prints and duplicates would have the same issues as the negatives, which is that they fade, they get density fluxuations and weird anomolies where even certain portions of the frame degrade at differing rates. Whenever we picture "old films", we have a certain image in our minds of slightly washed out grey tones and weird contrast things, but that's because even the earliest video releases would have been working from antique and nth-generation dupes; if we could travel back in time and run the negative when it was brand new, it would probably look very close to what the Blu-ray offers.
I think the bigger area is getting rid of things like audio hiss, because a lot of that audio hiss would be on the original recordings because it was early in the sound era. But even there, leaving the hiss as it is probably isn't very faithful either, so cleaning that up gets rid of some artifacts of the aging and copying process plus it makes it much more presentable and enjoyable.
That's my take on this. But it's hard to judge too much just based on a 2minute promo.