If you do that, it expands your test matrix quadratically.
So, it makes sense if you have infinite testing budgets.
Personally, I prefer exhaustively testing the upgrade path, and investing in reducing the time it takes to push out a hot fix. Chicken bits are also good.
I haven’t heard of any real world situations where supporting downgrades of persistent formats led to best of class product stability.
Does it? Reverting a bad deploy is not only about running the previous version.
Did you mess up data? Did you take actions on third party services that that need to be reverted? Did it have legal reprecursions?