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.
Here's the Steam page if anyone is interested in what it looks like:
https://store.steampowered.com/app/1064460/Murder_House/