When you watch the Archive.org version, you aren't watching a restored painting; you are watching a decaying photograph. That decay is thematically appropriate for a film about a memory of an affair that never happened.

Yet, many film theorists argue that a film released in 2000 belongs to the culture of 2000. The 4K restoration is a revisionist document. The Archive.org uploads are historical documents. If you want to understand why critics in Cannes wept at the premiere in 2000, you cannot watch the 2021 version. You have to watch the artifact.