Indeed, at it seems particularly unlikely when you consider that the absolute state of the art in the ZX Spectrum demoscene nearly fifty years on still isn't as high-resolution as Terrahawks' title sequence:

https://www.youtube.com/watch?v=xJd6GtM5P9E

By the way, there is an excellent orchestral rendition of the theme music by the Royal Philharmonic Orchestra, seemingly from a recording for the 'On Screen' album in 1986:

https://www.youtube.com/watch?v=1lEQFrl9bEE

Yes, it looks similar to the Hitch-Hiker's Guide graphics from around the same time, they were cartoons.

This was discussed a few weeks ago.

https://news.ycombinator.com/item?id=41509558

Kevin Davies, who animated the opening and ending credits for Terrahawks (credited as "Video Game & Titles") was an assistant to Rod Lord when he was making the graphics for the TV version of Hitch-hiker's.

More practical methods were fairly common during that period since they was actually cheaper and quicker than real computer graphics. The wireframe sequences in "Escape from New York", for instance, were actually miniatures with fluorescent paint applied to the edges.

Even Tron had quite a bit of Rotoscoping with a „computer look“, especially the scenes with human actors. Not shots like the lightcycle scene, those were actual CGI.

Fun fact: That was one of James Cameron's first gigs.