If file will not be cleaned you'll end up with something like this:
deb http://repo.zabbix.com/zabbix/3.0/debian stretch main
deb-src http://repo.zabbix.com/zabbix/3.0/debian stretch main
deb http://repo.zabbix.com/zabbix/3.4/debian stretch main
deb-src http://repo.zabbix.com/zabbix/3.4/debian stretch main
In case of upgrade there is no reason to preserve repo for old version.
In case of downgrade you will be forced to specify version for every installed zabbix package like that:
If file will not be cleaned you'll end up with something like this:
but usually you just need to install latest available version.