While fan scans can suffer from "black crush" (loss of detail in dark areas) due to the age of the film reels, they offer an authenticity that many feel the digital 4K remasters lack. Why Fans Prefer It
Contrary to popular belief, the extreme "phosphorescent green" filter seen on the 2008 Blu-ray was not part of the original 1999 theatrical experience. That look was largely adopted after the sequels, The Matrix Reloaded and The Matrix Revolutions , established a more aggressive color-coding system (green for the Matrix, blue for the real world). The original 35mm theatrical prints actually featured:
Red graffiti and blue background lights were clearly visible rather than being drowned out by a green wash.
Characters looked more human and less "sickly" than in later remasters.
The Quest for the Original Glitch: Understanding the 35mm "Matrix" Preservation
The specific "v2.0" version refers to a fan-led restoration aimed at providing a high-quality 1080p experience that mimics a 35mm projection.