I think the only redesign I've wholeheartedly supported is TASVideos' overhaul, and it's because they made it more aesthetically pleasing AND more functional without fundamentally changing where things are or reducing information density. As you say, most redesigns are just mindless keeping up with the Joneses corporate BS or (even worse) hellish ways to force more ads and eNgAgEmEnT on users, whereas this redesign came out of a community need without profit motive.