Just a wild guess, but what if that were a VHS of the fictional soap opera that Lucy used to watch in Seasons 1-2? I can't recall what it was called but I've been rewatching the original series and it shows up briefly in almost every episode.
Invitation to Love.
Shelley watched it a lot too. I could never quite figure out the point or significance, but it seemed important.
After looking at the snack more closely, i think it might be pork rinds. I believe the video is some sort of nature video about predators. I believe I see a lion. Remember when Sarah was watching the lions eating the water buffalo show on her TV? That's a possible connection to Sarah along with the white horse.