Some of all of those.

In my view, the revival style has evolved to be something quite different from the traditional style, and has probably been largely influenced by other factors from outside the original tradition. Most obviously, the revival usually features accompaniment. In the early days of folk clubs quite a number of source singers appeared there and probably had some influence on the revival singers, but in most cases (and certainly my own) revival singers developed their style by listening to other revival singers. Folk music as performed on the folk scene is usually very different from how it was originally performed.

I do listen to source singers, but often to be informed rather than to be entertained. It can certainly be an acquired taste (the same can be said about opera or jazz) but it repays a bit of effort. Even so, I find a little goes a long way.

However it must be remembered that source singers don't always come across as well on record as in real life. It can be difficult to recreate the energy which comes naturally when performing to an audience, and simply having a mic in front of you can be inhibiting. In most cases the recordings were intended as a permanent record rather than to be released for entertainment, and they may have been made on sub-optimal equipment and in sub-optimal conditions. I am fortunate to have been able to listen to a number of traditional singers when they were still alive, and in most cases that was a very different experience from listening to recordings of them.