I always thought it was odd that the F-16 evolved into a multi-mission, all-weather airplane- and a pretty expensive one while the F-20 went nowhere (and took years and years to get there). I understand all of the politics in the progression of both airplanes as well as the technical/business/sales side of them. The story kinda comes down to a case of sometimes it's funny how things turn out.
I think the F-16/79 is kind of an interesting footnote that is part of a bigger picture from that era. Weird concept that unsurprisingly went nowhere, like a four cylinder Ford Taurus of foreign military sales. The F-18L also comes to mind as an interesting footnote but for different reasons. Also the IAI Lavi and one or two others, all of them eclipsed by the straight F-16 (and the F-18 having a respectable second place showing). The SAAB 39 overlapped the same era and somehow it survived.
Wiki doesn't even mention the F-16/79 (the page for the J79 engine barely mentions it but only in passing).