This is an 80s kids movie. And 80s kids bands. Or more specifically, 80s teens stuff.
I was born in the 80s, and I think I watched this movie once but it was definitely less a part of my cultural upbringing than OG power rangers and Ace of Base, lol.
like everyone else I came to say this is from the 80's. I see a lot of this though. Bleed from one decade to another and in tv shows depicting the decades so of course folks not around think its accurate.