From the looks of it, the video quality on Viz's Sailor Moon R Movie Blu-ray is "very clean".
I can't compare well enough to tell if Viz gained any quality in their new transfer (I don't have the materials or the desire), but film grain obviously should have been there (probably visible on a DVD even), and Viz plainly whipped out their trusty computer filter programs and scrubbed and scrubbed until all of that pesky detail disappeared, and we're left with a clean, modern-looking Blu-ray.
It's not surprising at this point, and maybe the Blu-ray still has some value over other releases, but... ugh.
At least Viz is doing a good job of helping me save my money.
And Madman has a Sailor Moon R the Movie DVD coming out in June. No Blu-ray, just DVD. So I wouldn't be surprised if Viz's "new HD remaster" of the movie is SD-based upscaled fiction like the rest of their shitty HD remasters.