Arrow Video’s 2023 4K restoration was a major event, but they in HD. Therefore, the fan-preserved 720p H.264 update remains the best way to see the longer cut in decent quality.
Then mux with MKVToolNix.
Unlike the "Open Matte" TV versions that distorted the image, the updated BluRay versions maintain the cinematic 1.85:1 aspect ratio. What’s New in the Extended Footage?
Waterworld explores several themes that are relevant to contemporary audiences. The film's depiction of a world ravaged by environmental disaster serves as a warning about the consequences of climate change. The Mariner's character arc, as he learns to care for Helen and confront his own past, adds a human dimension to the story.