Designer Timothy Anderson has done up two of science fiction's more iconic films as completely unsubtle dime store novels that eschew mystery and intrigue for lurid thrills. Spoilers must always be front and center, folks! Click on the above image for further detail.
I don't think The Matrix would not have worked in the 60's. It might not have worked in 1995. The idea of being encased in a computer program, in a virtual reality, unable to distinguish reality from a simulation would not be understood by the average movie goers.