It could also mean that his enemies underestimate him. They might see him as just another ninja when in fact he has the potential to be a king. This gives Naruto the element of surprise. And as the story progresses, when his true status is gradually revealed, it would shock both his friends and foes, changing the dynamics of the entire story.
Well, it could lead to a lot of interesting developments. Maybe he continues to act as an underdog while actually having great power at his disposal. This could create situations where he unknowingly challenges the existing power structure in the ninja world because he doesn't realize his own status.