I have not personally seen this new release but it sounds like you’re describing long dupe opticals that were cut in for fades, dissolves etc.
Not fixable and have looked that way since day one.
1.75 was MGM’s house ratio at the time of principal photography. http://www.3dfilmarchive.com/the-first-year-of-widescreen
And yes, before anyone asks, this was originally planned for 3-D lensing under the title “Rope’s End.”