I think you are right as I would place this circa '86, if I didn't know better. Aside from their lack of age and my unfamiliarity with their work, I could see the band potentially fitting in as an act in a classic 80's tour. Good call.
That video is almost entirely early mid 90's in style and substance though.
Steel Panther
https://www.youtube.com/watch?v=x67jtMPfdTw
--- each brain develops its own preferences ---
The Palace https://www.amazon.com/Master-Universe-Palace/dp/B01G2M5Y00/ref=sr_1_1?s=dmusic&ie=UTF8&qid=1475188559&sr=1-1-mp3-albums-bar-strip-0&keywords=the+palace
Kristine https://soundcloud.com/kristineofficial
Phantom Ride https://soundcloud.com/phantomridemusic
Freeweights https://soundcloud.com/freeweights
Paradise Walk https://soundcloud.com/paradisewalkofficial
Sebastian Gampl https://soundcloud.com/sebastiangampl
The Midnight https://soundcloud.com/themidnightofficial
Miranda Carey https://soundcloud.com/miranda-carey
just to name a few.
Psychos do not explode when sunlight hits them, I don't give a *beep* how crazy they are!
If you're looking for new bands doing '80s style heavy metal, I list several in the first post of each of these threads:
2015 Rock/Metal Album Releases - IMDb
http://www.imdb.com/board/bd0000144/thread/246516504
2016-ish Rock/Metal Album Releases - IMDb
http://www.imdb.com/board/bd0000144/thread/258219224