Yes, that would be great!
It would be a nice sub-layer to gameplay that could draw in a different audience, or give experienced players something else to do to prevent boredom. It doesn’t even have to be anything to do with the overall battle, just a sort of side game to scratch that “I’m done getting blown up” itch.
Perhaps racetracks could be protected “no-fire zones”, either with weapons automatically disabled or extremely lethal NPC guards (fire at someone and they will lynch you).
Start with fighter races like we had before, and if people like it, it could be expanded. Perhaps one track per world for now?
It would also be a reason to get down to ground level and barnstorm the scenery, which is always awesome fun.