Hmm, it's worth considering... especially since team-based movies (e.g. Fantastic Four, X-Men) are becoming a thing in the late '80s/early '90s... it wouldn't be a straight-up equivalent of The Expendables, though, but something a bit different... *ponders*Nice update!
An idea I had - why not create a version of the Expendables in TTL? You mentioned that the action genre had been somewhat sidelined by the superhero films - a movie that featured Arnie, Willis, Stallone, Norris, and the like in thier prime could well be the attempt to break into the mainstream.
It wouldn't have Bruce Willis in it, though. Remember that Arnie stars in Die Hard: Commando Part II in TTL. Willis has a somewhat different career path ahead of him.