That's really why I think S4 works for me though, it has the most to be gained from rewatching. It's the least outright funny on the first go through, but there's a lot of layers to peel back and it does reveal a lot more laughs. Yeah the extra work is kind of annoying, but if I didn't want to put in effort I wouldn't be watching AD in the first place.
the fact that they remixed it at all sends mixed messages from the creators. Are they admitting the criticisms were correct and want to "fix" the problems? or did they want to do it because it would be interesting to do so and there was an audience that wanted to see it. They knew fans would re-edit it so making an official alt-cut does eliminate that as a significant problem. I think people should just watch both and then make up their minds how they feel about it.
I agree that average AD is better than just about anything else. If they keep making seasons and each one is just a tiny bit worse than the previous one they're still so far ahead of most other comedies that they'll be forced to stop because one of the actors dies before the show actually gets outright bad. Though I think I'm kinda hoping season 5 just ends strong and they stop there. We got lucky that 4 and 5 even existed in the first place considering how when the show was cancelled originally cancellation actually meant something. So everything after that feels like a bonus to me.