Blu-ray version is definitely not perfect but I wouldn't call it mangled. It is presented in 4:3 which might be an issue for some viewers but it is absolutely the best this show has ever looked: https://www.blu-ray.com/movies/Babylon-5-The-Complete-Series...
Reading the review, it looks like they gave it the best treatment they could with what they had, definitely better than the DVD. Still a shame that WB didn't go the extra mile and redo the CGI, but maybe that will happen in time.
Have we just forgotten the DRM issues with Blu-Ray? I can't even watch them on Linux without relying on leaked keys.
That's why legal unencrypted availability online is such a boon.