In my opinion, yes. It’s the one that best captures the feeling. It’s has that gritty industrial look and the best music.
The later ones are also good, but they’re a bit too “clean futuristic” to scratch my Wipeout itch.
First one hasn’t aged as well. Mainly because if you bump into a wall ever so slightly, you lose most of your speed. 2097 and onward are better at keeping your momentum going. I also love those spark effects that come when bumping into walls in 2097.