That was in the first game. Black and white too, like Ikaruga.
Something that set it apart, and was actually used more in the first one (like there were tracks that if you didn't changed in time you just fell of it) and they toned it down in this one.
I think that in the end, this game is its own thing.
Is not F-Zero, is not WipEout, is just a futuristic racer (and sequel) called FAST. There were so many posts claiming this to be like F-Zero, from people that barely know a thing about it, that it maybe damaged the expectations around it.
Same way not every fighter is Street Fighter. Is all about expectations. Many approach Mortal Kombat looking for something like SF, it is not, then leave disappointed and say SF is better. When in reality, SF is SF and MK is MK. Some need to accept the games for what they are and not for what they wanted it to be.
(Not pointing fingers, just added more to this post. For years I and a few others always mentioned in FAST threads that this was no F-Zero,no WipEout. More of a combination of things. Yet, there were more posts about that or "please, Nintendo buy this guys" .."or reskin this and call it F-Zero").