When we see the statue at the beginning of the season five finale, it is full-sized, without damage. I'm assuming this to be in the 1800's (with the Black Rock approaching, offshore). In the 21st century, it is in ruins, with only one foot remaining. I don't recall seeing it in the 1977 episodes.
However, if it were full height in 1977, then it seems entirely possible that the bomb blast is what knocked over the high parts of the statue. And, if that were so, then, by 2007, the bomb blast had always already occurred, and would not be anything that would disrupt the 2004 timeline that we've already seen since the first episode.
Does this seem like a possibility, or is there something I've not thought of that would counter this idea?