That's the most common speculation regarding why they have compressed dynamics and rolled-off bass, and while there isn't necessarily any proof of that fact, it does indeed make sense.
Be careful what you wish for. That's one reason why Disney's mixes on UHD and Blu-ray have been crippled -- they're balanced for the lowest common denominator of streaming.
There isn't one single original mix. Dragonslayer had both matrixed optical Dolby Stereo and discreet 4-track optical Vistasonic prints, but the 70mm prints did have 6-track mag mix with split surrounds and a baby boom track. In a perfect world, it would have been nice to get discreet 4.0 and...
I finally got around to watching it, and while there are some minor alterations that may or may not be a bridge too far, depending on your perspective, it's mostly a matter of cleaning up the ugly matte lines and digitally massaging the original composites to try to help them blend better with...
I did just get my copy from Amazon yesterday, Steelbook, and yes, it's missing the code. I wasn't going to jump through the hoops for their replacement program, but since I already happened to have posted a picture of the packaging elsewhere, I did end up filling out the form. I give my codes...
On the one hand, I'm mildly sympathetic to the complaints about no digital code inside people's sets. On the other hand, considering that I haven't even gotten a shipping notification for mine despite having pre-ordered it months ago, I'm not exactly dripping with sympathy, either.
My money is on the former, not the latter, but I don't have the disc in hand yet. I would also assume that Paramount wouldn't fess up one way or the other, so all anyone can do is guess anyway.