Earlier quoted context omitted.
On the other hand, the naming of Blockbuster[1] makes more sense with that context. [1] https://en.wikipedia.org/wiki/Blockbusting
Because Blockbuster Video played a pivotal role in early-1900s segregation in the United States? I think it's much more likely it's just a reference to extremely popular and economically successful movies but happy to be proven wrong.
Before movies bombing was a bad thing, a successful movie was "exploding" like a blockbuster bomb.