Respect is a good thing.
But music is like a river, like the ocean. Though it looks the same, its always changing. We all bring our personal experience , our 'ears' to the music we love. We can't help inserting nuances from our collective and individual musical experience.
In the Bluegrass "tradition", musicians often take a tune or song from another genre, and give it the Bluegrass treatment: often faster, a harder driving rythmn and sometimes the words are changed to fit the new cadences. Is this disrespectful? Maybe; but I don't think so. ALL music changes, and gets re-interpreted by subsequent generations. These generations bring to prior music, cross fertilization from other musics, and the influences of their own musical education and experience.