This wasn't actually a style of the 1980s — it's a genre musicians built in the late 2000s, reinterpreting that decade's sci-fi films (Tron, Blade Runner) and VHS/arcade aesthetics as retro-futurism. The "Outrun" nickname comes from the 1986 racing game.
Visually the formula is a perspective grid floor narrowing toward the horizon, a giant setting sun with horizontal stripe bands behind it, strong neon pink/cyan/purple contrast, and bold italic logo type with an outline glow. In CSS, perspective plus transform: rotateX() tilts the grid floor, and a linear-gradient builds the sunset.
It suits music album art, game title screens and retro-themed event pages. It's easy to confuse with cyberpunk, since both live in dark neon — but synthwave carries a "warm" sunset mood, while cyberpunk carries a "cold" rain-soaked-city one.