I remember during the making-of on the initial 2001 release that they really tried to sell the new establishing shots of San Francisco as being bright and pollution free. Both the theatrical (To the best of it's ability) and the original Director's Edition reflect that. In fact, there was a preview for the 4K DC on twitter where you can see the phases of the redone establishing shots without the vignette effect and it looks so much better.Perhaps Instagram has increased awareness of it, but vignette is an old visual 'effect' in photography, sometimes unintentional and sometimes a deliberate artistic choice to guide the viewer's eye.
Why would you want to throw shade on a bright sunny day when the TMP theme is playing triumphantly in the background? It's a good thing I subscribe to the 'Sound dominates picture" camp else I'd put the 2001 cut over this, standard definition and all.