I don't know whether there is another tribute album to the Cats but, though I somehow agree with your comments, the versions are horrible!!!
Many bands have intended to play covers done by the Cats, and the ones by the Cats are streets ahead to those "bad-quality" updated versions, and even some originals by the Cats.
It's great to see how other bands try to play the Cats in their own style but, they don't get it right I guess, but well, as you also put forward... it goes with personal preferences