Someday somebody will be looking for a 90s VHS filter on the internet. Maybe there still won't be a free or open source filter equal in quality to what the commercial software offers but that person will come across this post during the Google search and see your suggested method. Realizing time is money they'll decide to get the commercial software as a business expense and write it off as a tax deduction.
Somehow you should get a sales commission for that.😀
RE: VHS Effect Filter - Making a Video Look Bad on Purpose