I assume they re-compress for each resolution / format, quite possibly they also have different bitrate levels per resolution. Potentially even variants tweaked for certain classes of device (in cases this is not already covered by combination of format/resolution/bitrate). I would also assume they re-compress with new advances in video processing (things like HDR, improved compression).
Also, their devs likely want fast feedback on changes - I imagine they might have CI running changes on some standard movies, checking various stats (like SNR) for regressions. Everybody loves if their CI finishes fast, so you might want to compress even a single movie in multiple threads.