Old Smuggler as good as Chivas Regal?

My grandfather has been drinking Scotch for a long time and keeps Old Smuggler around because it is cheap and was good for a quick snort while smoking a cigar. Recently he purchased a bottle and noticed the color changed. A friend had given him a bottle of Chivas Regal 18 year. He noticed the two now seem to have a similar taste, with the Chivas being slightly more viscous and smokey than the much cheaper Old Smuggler. I would say it has to due with the overall aging and that the Chivas would be better with soda than the Smuggler but straight seem to be similar on the nose and overall finish. Has anyone noticed that Smuggler seems to have an improved formula? Or could it be that the bottling company messed up and put the wrong Scotch in the Old Smuggler bottle?