Regarding the reddening, as I enhance & try to color balance the image, I can see it also suffers from color degradation from this being a copy of a copy or a video tape too... you can see it by the faint horizontal bars in my enhanced version.
Also film, as well as photo paper... even in black & white, turn yellow or brown with age (brown is really just darkened yellow, yellow+black=brown). I'll bet the color & detail was much better on the film, if it still exists or ever existed. Lets not forget, color video taping did exist outside of TV studios since the late 60s. Betamax was available since the late 70s. At the time, the first betamax sold for $1400-$1500. U-matic video cassette recorders were around since the early 70s but were just as expensive. At the time, I opted to buy a used broken, color reel-to-reel video recorder to record & play our band videos. It & it's color camera were probably built in the late 1960s.
Needless to say, I fixed up the recorder, & it ran well, until VCRs became affordable.
So as old as the video looks, it may not have been filmed at all. Many masterpieces & fun stuff was lost because there was no film, & the tape got recorded over (like some old Dr. Who episodes), or no working machine exists anymore to play them. The only reason many YCDTOTV, & some old Dr. Who episodes still exist, is because people recorded them with their betamax or VHS when they were still being re-run on TV (Very old B&W Dr. Who was filmed, not taped).
Programs that can fix pictures need at least some information still intact to do a good job. As the blues & greens fade too much, the program can't make out for sure what was supposed to be pure white, or pale blue, green, or yellow anymore. Blueing, tends to add too much blue to whites & pale colors.
image no longer exists on this server