V-16s were generally considered to be heavy for the power developed.
Well, what are the alternatives? Upthread you were lamenting that cylinder volumes are getting awfully big as you're trying to increase the size of a V-12. As sufficient quantities of very high octane aviation gasolines weren't available to Germany, cranking up the boost a la Merlin wasn't an option for them. So the remaining options were to increase volume and/or rpm. A H-24 is perhaps a "natural" design point, but will almost certainly be heavier than a V-16 of equivalent volume, though might compensate by running the smaller pistons at a higher rpm, producing more power. X layouts, well that looks quite risky just looking at the troubled development history of them. I'm suggesting a V-16 could have been a reasonable and technically relatively safe option.
As quick snap shot of this, in 1951 Alfa Romeo was running a 1.5 liter straight 8. They had stated work in 1938 so there was a lot of development. An awful lot of development.
At the end of the 1951 season they were getting 420hp/9,300rpm from a 363lb engine running 98.5% Methanol fuel and 3.10 Atm manifold pressure.
BRM was trying to sort out their 1.5 liter V-16 engine which finally gave them 430 hp/11,000rpm from a 525lb engine. They were using 4.85 Atm pressure.
Now consider that the aircraft engines had economy of scale. They also were running on gasoline and not Methanol. The BRM engine was one of the ones that used the central gear tower and separated the engine into two 750cc V-8s (with a 135 degree angle between the Vs) and again, power was taken from the middle of the engine.
Another racing V-16 were the pre-war Auto Union V-16 race cars: Auto Union racing cars - Wikipedia
This were fairly successful in the pre-war Grand Prix races in Europe. From the table on that wiki page, the final V-16 was a 6L affair producing 620 hp at 5000 rpm and a modest 0.95 bar boost. No idea what fuel was used, except an anecdotal note that drivers were coughing up blood due to inhaling exhaust fumes from the cars on the track.