I first read 'Madame Bovary' in my teens or early twenties.
The existence of another, competing translation is a good thing, in general, and only immediately discouraging to one person - the translator who, after one, two, or three years of more or less careful work, sees another, and perhaps superior, version appear as if overnight.
If a translation doesn't have obvious writing problems, it may seem quite all right at first glance. We readers, after all, quickly adapt to the style of a translator, stop noticing it, and get caught up in the story.
Even though I believe a superlative translation can achieve timelessness, that doesn't mean I think other translators shouldn't attempt other versions. The more the better, in the end.
If I was writing about an academic or a more difficult person, I would use the Latinate vocabulary more, but I do think Anglo-saxon is the language of emotion.