I've recently fixed a VCR from the 90s, connected it to a TV from the 80s (I collect retro stuff..), put some old VHS tape and I must say that the experience is really enjoyable - the whole mechanical operation and even the poor quality. VHS tapes have a distinct look and sound that can affect the perception of a movie, especially horrors seem more scary because the picture isn't as clean and sharp which helps hide any imperfections that would otherwise ruin the illusion of "realism". It's similar to vinyls - you wouldn't want to use it daily, but from time to time it's fun to do something "the analog way" :-)
There's actually a growing subgenre of horror videogames that utilize this aesthetic to great effect. It's mostly an "indie" thing right now, but heck, the most recent prominent example I can think of is Puppet Combo's 'Murder House' game, which looked and played like a '90s PS1 horror title, tank controls and all, and yet it was still scarier and spookier and than Resident Evil's latest triple A title.
Here's the Steam page if anyone is interested in what it looks like:
Huh. I really don't see the appeal of that aesthetic. To me it just looks poorly done, not vintage. If it's actually trying to be vintage, it misses the mark.