Maybe most racing games were lower budget games, a class of games that has pretty much disappeared. There is hardly anything in between AAA and indie games anymore.
It takes a lot of work to make good looking interesting tracks. There are still some racers on PC yet they rather push realism over fun, trackmania an exception. Racing games have fallen behind the curve when it comes to graphical prowess. Sure the cars look nice, environments are no longer eye catching. Even Driveclub doesn't look all that special without the rain.
Open world has become a popular way to increase content with the same assets, not having to make all different tracks. Yet that also decreased the fun factor of mastering a track and turns the game more into a todo list. Sure Forza Horizon is great and I even enjoyed The crew, it's not Motorstorm though or the old burnout games.
Perhaps VR can help a bit, unless it becomes the same hurdle as, you need a steering wheel to enjoy this. I'm still buying racing games, yet apart from DriveClub, haven't enjoyed them all that much this gen. (Haven't played FH2 and FH3 yet though)
I would like a new Rallisport Challenge (Dirt got repetitive fast and doesn't control well without a wheel), new Burnout (not openworld) with splitscreen racing and hot seat crash mode, new Motorstorm (not city nonsense), new PGR (yes to city tracks from all over the world), new Driver (I liked Driver SF, Sao Paulo perhaps?), new NFS hot pursuit (not openworld or at least multiple maps), new Wipeout (maybe Redout is good) and GT7.







