JMich: Imagine companies doing that with Speech. You want to hear voices in your games? Pay extra for an addon, or buy the game again in its superior version.
Thank God we've come along so far since those days of Origin.
mistermumbles: So how about them Sierra and Lucas Arts adventure games? =P
It would depend, if it's an old game like mistermumbles mentioned that's being remastered and now has added voice acting that's one thing. Though if they released a game today and one version didn't have voice acting and the other did while costing more, I would think that's stupid but even that would be better than charging more for a different render version as it would have a greater impact on the game and also costs a lot more to add to the game (if it has lots of dialogue).
There is a very good chance all they did for the different render version of simply recompile for each version, which means there will be no real benefit. For there to be a difference they would have to put in extra work writing new shaders etc to take advantage of the newer API's features, even then the differences could be small to unnoticeable especially between DX9 and DX11, even a more drastic change to something like Mantle would only have benefits in certain cases.
With people mentioning screenshots between the versions looking the same, it really seems like they've done nothing but recompile, click some buttons and wait, and want to charge people extra. This is a new kind of slime when it comes to being low.