Yeah, it looks ugly, and I wouldn't have mounted it myself. But it's there and I have to accept it. It'll look better painted
It is a hole in it and the intercooler is placed right behind it so it does get some cooling. If it is neccessery with the air intake to cool it I don't know.
The car runs like hell though. It's just insane...
About my air intake: Well, I didn't mount it... but it does have a purpose. It cools my intercooler which is rather usefull since my engine produces 190 HP. And it won't look so stupid when I get it repainted to match the color of the car
About the name, it doesn't really have to be named AE86 in the game, they could just use a fake name and make a similar model.