It is worse than that. The 737 is basically a redesigned 707 with two engines instead of four.Right now the Boeing 737 is the most popular American airliner in the skies... yet the original 737, which every version thereafter was based upon, had actually been on the initial drawing board and prototyped way back in the early 1960s...
The 707 entered service in 1957. The 737 has the same airframe.