I love the rendition. If I were to choose, I'd choose this one over our current rendition of the National Anthem.
There are things that we need to change to facilitate innovation. However, I believe there are also things that need preservation. If history is involved, we preserve it. For instance, there are what we call historical structures. Even how ugly it looks based on our current standards, we preserve them for the sake of history. We have a saying "ang hindi lumingon sa pinangalingan, hindi makakarating sa paroroonan." This is the importance of preserving history -- so we can have something to look back to.
I believe that it's the same thing with our Julian Felipe version of Lupang Hinirang. Times have changed and our musical tastes may have also changed over time. But we need the original version so we can preserve history and have generations look back to it for lessons and inspirations.