One need not be an 80's culture expert either lol to understand how huge Prince was by the Fall of 1984 when "Stranger Things #2" was taking place in Middle America. By last season I had reasonable expectations of rap music and R&B for Summer 1985 in "Stranger Things #3". Not an ass if it but some sampling here and there . . . they did get an obscure song from Teena Marie which even I had to look up (my musical memory of early 80's R&B is superb thanks in part to the trauma of my parent's marital dissolution).
You are correct though that they virtually omitted any iconic 80's Black radio hits from the series when Fall 1984 thru Summer 1985 had an ASS of them to select from among . . . many of which went mainstream due to overwhelming demand from White consumers. It's like the Duffers really don't think its important to have more than a license from Madonna . . . they surely could afford to throw some Netflix $$$ at Prince's estate to fill out the 1980's soundtrack of "Stranger Things #2" and "Stranger Things #3" because it is just not the mid 80's without him, Madonna and Michael.
No Prince in the Spring of 1986 where "Stranger Things #4" seems likely to take place means no "Kiss" or likely any other R&B #1 hits of the year (SMDH). All we can do is hope lol. I can envision Lucas serenading Max with a lip sync as they steal away to his furnished basement to watch the Donnie Simpson show on BET though