> Most race cars aren't electric though? That analogy makes no sense.

No, they aren't. I attend a significant amount of track events as a driver and I will see maybe 1 electic car every few events. Besides the lack of charging infrastrucutre at most race tracks, the one positive of instant torque/power is significantly outweighed by their overall mass and significant heat generation.

The latter tends to result in a Tesla S being unable to last more than 20 minutes at Laguna Seca or Sonoma before the battery pack overheats and reduces power output requiring the car to exit the track.