No, Margarito and Bute won't be first ballot Hof'ers. It's not solely about fame, it's about what you bring to the sport. C'mon guys, if Willard and McGuigan get a place then I'll be damned if Gatti, whose brought many fans to the sport and produced some of the most amazing battles of all time doesn't.
There's a reason it's called the Hall of Fame, not the hall of the ATG's, or the hall of the great resume's, etc.