Saisho VR3650 VCR player issues + mode switch ID

So I managed to get the thing disassembled. Definitely looks more like a mode switch.

I gave both a clean with some 99% IPA. I focused more on the white piece part as the metal there looked more dirty. I put it back together and the VCR seems to be behaving better than before. I am able to get it to eject more commonly than before. There seems to be an issue with the screw though. This switch is mounted via this screw. This screw no longer threads in the hole and just turns forever.

I am guessing the threads in the hole have been damaged since the screw itself doesn't look damaged. I did try putting another screw, but it doesn't seem to hold as well. I think this is causing some issues as well. Not sure how to tackle this as I don't have a screw with the 2 things that are at the top. I am not sure what they're called.

I noticed when I put the tape in, the reels don't spin (they try to, but then stop). Of course the VCR doesn't play. I see the play symbol on the VCR display and the drum head does spin, but it just ends up making some whirring sound and then the VCR shuts off.

I looked underneath the unit and unscrewed the metal piece that had 5 screws. I found this belt. I think this is causing problems - could it be why the unit isn't playing and shuts off? The belt looks worn out. There's what look like cracks/lines all the way around the belt. Hopefully the image shows it.

I intend to try and replace the belt to see what happens. I measured it with a caliper I had and it seems to be around 121mm folded length and the width is 1.5mm. It seems to be a square belt. Would buying a pack of belts be the best course of action?