There's a glimmer of hope in seeing a proper DVD/ Blu Ray release. When Warner Brothers put out their DVD collection of Merrie Melodies, Whoopi Goldberg agreed to film a small "disclaimer" of sorts. She postulates that the cartoons were products of their time, and that it's more damaging to out recollection of history to simply edit out the contentious bits; pretending as if the themes and caricatures never existed at all.
As she was recently enshrined as a Disney Legend, she brought up her desire to see Song of the South get a proper re-release. Hopefully with her endorsement, the topic can at least find it's way into the Disney Cash Vault (boardroom). Given the current political climate though, it's likely a pipe dream.