I actually think the 16vs reputation is getting more widespread. If I went places a few years ago, no-one knew what it was - but now everyone does!
Many of the cars we regard as worthy are a result of very careful brand management: as good a car the Mk1 Golf GTi was, it was not the first hot hatch (Renault 5 Gordini was on the market two years earlier!).
I suspect that the Clio name, like the Golf, will be in use for another few production generations and hence the older models will not be forgotten.
The 16v and Willy will always have a reputation amongst hot hatch fans, although the Willy will steal the limelight despite being fundamentally the same car. The GT Turbo seems to be doing just fine, although I think the fact that tuners are turning their attention to the 16v says a lot about where they perceive the business to be.
Many of the greatest cars like the Lotus/Talbot Sunbeam, Renault 5 Turbo/Turbo2 (wide arch ones) and Metro 6R4 remain out of the knowledge of the general driving public.