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Many movies from the 1950s are available on Blu-ray, so only an idiot would think that a Youtube video uploaded to 320 resolution reflects the state of technology of that time. Youtube only introduced 480p resolution around 2007, and HD resolution was only introduced around 2009. "What they didn't have high definition in 2008?"
When Wizard of Oz was restored, a movie from the 1930s, let alone 50s, they scanned the negatives at 8K resolution in order to get all the quality. I don't think theaters to this day show anything better than 4K, and to find a 4K theater is itself still kind of rare.