This is what I think, but it's just my opinion, the "rat" look is ok on an old split camper, bay, a beetle, fastback etc etc, but the clean, restored ones will still get my attention more but the rat look does seem to work ok but even the air-cooled brigade seem to be getting p1ssed off with people getting rusty old sheds and hiding behind this look or trying to sell them for stupid money.
I personally would not be impressed with a rusty mk1, mk2 etc and again, the clean, subtle or well modded cars would always grab my attention first. Some people probably enjoy the look, some people are probably too lazy to be @rsed to clean them, but as with everything, it takes all sorts and it would be a poorer place if we all liked the same mods, cars etc.
This reminds me of a quick story though, at E38 last year we were walking around the main show ground and there were loads of people looking at and taking photos of a stupid clapped out old mk1 (I think it was rusty and yellow, or orange, can't rememeber) that had stickers over it, big holes in the wings etc etc and gtijoe turned round and said to me "Look at all the people around this and taking pics, yet look at this raddo, nice and clean, probably had a lot of time and effort put into it, yet noones even noticed it!". And to be fair to Joe, he had a point.