I don't think that's true. Look at the Roundabout revival of Cabaret. It was a fresh perspective that didn't distort the original. It had a longer run than the original and was generally very very well liked. No umbrage there.
This version is going to require significant text changes, but I assume the authors are all on board.
I applaud take chances with material and looking at it in new ways, but IMO, this is a fundamental change to the existing material.
