Oh, the F-16 is a fantastic fighter. It's a great fighter-bomber as well, but it's been exceptional at dogfighting since day one. The USAF just doesn't use it for air supremacy since the F-15 is tasked for that.
The USAF was really interested in a "cheap" aircraft that could replace the F-4/A7 in quantity, and function in a swing role as a bomber if it wasn't required for A2A work.