In photomode yes, not on the track. And once you get that high in polygons, there are little to no gains to be had in modeling cars unless up extremely close. The leap from 10k > 100K is huge. The leap from 100k to 500k while still visible, demand huge resources to render in game, especially with dozens of them on the track, while providing very little if any noticable visual improvement while in game. IMO the gains are made in modeling the details, like engine bays, back seats, trunks, undercarriage etc. I'd rather see effort put into modeling complete cars, than adding useless surface polygons that have zero impact on gameplay, and a huge impact on resource requirements.
At some point you have to decide if looking at your cars under a microscope is more important than having a grid of 45 or 50 cars on track for a standing start is. A simplified analogy for illustration purposes obviously, there is more to it than that.