I can't speak from a producer's point of view, but I think rewatch value is very important, especially in this day and age, when audiences consume movies much more, and have lower attention spans compared to in the past. For me a rewatchable movie is one you just want to watch again cause you got so caught up in it emotionally. Some movies I also rewatch cause they take a lot of digestion before you know what to think of it. For example, Schindler's List (1993), I have watched quite a few times, just to gather all the information. JFK (1991), I watch over and over, just because I find it very entertaining.
But usually a movie is rewatchable for me, if it is just really really well structured and very cinematically done in my opinion. I watch M (1931), over and over again, just to study Fritz Lang's style, even though it may not be as good of a movie as say, The Skin I Live In (2011), for example. The story is not as good but on a pure cinematic level, it's more rewatchable.
I dunno if this is going anywhere lol. But I think rewatchability is important with today's audience. When I ask my friends if they want to see a movie, they rarely ever want to watch anything on DVD. They always want to go to the theater. They are almost always interested in what's new, and almost never give a thought to watching a movie from the previous year, so people seem to forget movies pretty fast nowadays, but that is just my take on it.