Just go emulate GX, it's the greatest futuristic racer ever and one of the greatest arcade racing games period, from Sega or anyone, yet so few bought it on release and still too few have played it through despite supposedly pining for another. It's not like any studio will easily surpass it in anything but visuals, which still look great in motion anyway. Alternatively wait for Aero GPX but that seems to be somewhere between GX and 64 in higher resolution rather than something to truly top the former. Still, it should be good fun.