1. There were rifles in the 1700's. Not all muzzleloaders are muskets. Rifles have a twist or rifling and muskets are smooth bore. There were also cannon, pistols, grenades and mortars as well as bayonets, swords, axe and other weapons. The people of that era were very aware of the advancement of weapons.
2. "Olde" is pseudo English and is often combined with faux archaic phrases like "ye olde".
3. Old English was spoken by the Anglo-Saxons beginning around the Fifth Century. This was followed by Middle English beginning in the Twelfth Century (see Canterbury Tales). By the time Shakespeare begins his career he is writing in Early Modern English in the 1600's.
4. By the time of the American Revolution, the founders spoke Modern English. If you don't believe this, try reading any number of poems and novels from the period or perhaps two fairly famous documents: The Declaration of Independence and The Constitution. Both are clearly written in Modern English.
The Right to Bear Arms is the Second Amendment to that last document. It does not use the words musket, rifle, cannon or any thing else. It does, however, talk about a "well-regulated militia."
If you are going to create a meme, please check your facts. Thanks.