Long-term stock market returns have been >10%, not 7%. The 7% is the average between stocks and bonds. Bengen's study showed your 50/50 large-cap stock/bonds portfolio would have survived for at least 30 years if you took a 4% initial draw and adjusted annually for inflation anytime you started from before the Great Depression and until the 1990s.

However, current Monte Carlo studies show that strategy has an 87% likelihood of success.

You can see lots more here: https://themakingofamillionaire.com/will-the-4-rule-still-work-new-research-casts-doubt-178cc764d35f