^ Yeah but she's making wayyyyy more money now that she's doing loads of commercial stuff (Revlon, Neimen, VS, etc.). She probably wouldn't be as successful commercially if she still looked very high fashion.
And in the end, isn't it all about making as much $$ as you can before you're pushed out by the new girls, since a model's career is so short?
Looking back at those pics, she looked 12, not 16. She definitely looks her age now, 17ish (I know she's 18). Even her walk has changed to something more confident, more mature.