Incredibly well polished game! Really screams 90's arcade cabinet, so you've absolutely nailed the theme!
I'm a tad confused though by the actual puzzle mechanics. There's only 4 colors but 5 lanes, meaning that as long as you stack the colors in individual lanes you can never lose.
A good rule of thumb to make an engaging puzzle game is to have every move have a consequence, meaning it needs to affect something else.
For example, Puyo Puyo is pretty similar to this mechanically, but you drop two connected blocks at a time meaning that by placing down one block where you want it, you're affecting another column / row with the unwanted block.
I think the game could have benefited a lot from a mechanic that creates self inflicted chaos.
Still one of the most polished and awesome submissions here though, well done!