I'm pretty much an absolutist on the subject that as long as the original is available and the new version is sold telling you it's not the same who gives a damn?
that being said, I do have mixed feelings on it in general for different reasons. first off, I have no problem with the original creator doing that, but I sort of think it's a waste of their time and effort. you're never going to be fully satisfied with anything you do or create, it's already out in the world, just move on. But I get the inclination to do it. I don't really care Lucas tinkered with Star Wars for 30 years, what I care about is the fact he buried the original version, after being one of the guys who told Ted Turner to shove it up his ass by only releasing computer colorized versions of the old black and white movies in the Turner library. if he had just sold both versions nobody would have ever complained about it.
I feel less okay about publishers doing it outside of the hands of the author, be it just because, or due to them being deceased. At least the former cases are the creator themselves. I think censorship is stupid and a waste of time in general, but I'm not opposed to it unless it replaces the original. I also think it's completely ridiculous to censor something intended for adults in the first place, when a disclaimer saying "we don't condone whatever is in this book because there's some racist and sexist shit in it because it was written years ago in a more racist and sexist time, if that bothers you even with the context buy one of our other books instead" would suffice.
In the case TC was talking about, I just think that sounds ridiculous too. Again I sort of understand updating the setting of a book for children so it's more relatable to them today, but a horror/thriller novel? Why bother? If it's effective it's still going to be effective set when it was written, and probably less so in the modern day. and if you're going to do it, just sell both. some people won't care and will buy either version, some people will buy the original, others might want something with a more modern flavor, and some people might buy both to compare them. You're throwing money away by burying the original copy.