Yeah, I've noticed this too. Some of the women I know that are quite attractive now at 22-27 were very awkward-looking at 15-17, which is the age range when all reasonably fit girls are supposed to be attractive. While some of the hotties from high school look old and washed up, even at just 25.
Nah, I know what he's talking about. A lot of girls in high school are lanky or not entirely busty, and when girls "break out" at 14 or 15 that's the hot look for them to have. Those girls very often burn out or don't worry so much about maintaining their looks, while the girls who were awkward-looking grew into themselves and suddenly turned very lovely.
I don't think she's unattractive or has aged badly. I find Michelle Obama to be more attractive and an overall more compelling First Lady, but that's largely a matter of personal taste.
What I never understood was the attraction to The Wicked Witch of the Northwest, aka Sarah Palin. She did nothing for me. Moreover, her husband was a secessionist.
Case in point: Michelle Obama looked fairly awkward as a teenager, but is beautiful in her 40s.