From context, I'm guessing that this was done about 1987-- placing 2007 at twenty years in the future. (Rambo was still an active film franchise, with two released and the third coming out the next year-- then it would go on hiatus for twenty years. It's not 1997, because that was the year the first DVDs hit the market.)
And I'm not going to mock them for the swing-and-miss of not knowing that movies would not be released on VHS in 2007. (The last was in 2006.) By 1987 laserdisc had petered out-- it would hang on among enthusiasts with a lot of money, but it was obvious that it wasn't going to be the dominant format.
No, my bone to pick is that they thought Rambo XXII was going to be Rated G.
(Also, note that the tape lists the movie as coming out in 2004. They were expecting a sequel a year for 20 years???)