Just did my first sport mode races this weekend and I honestly can't believe the view is restricted to bumper camera ONLY. So lame! GT5 and GT6 both had the chase view available in all the online racing. And I read through the GT Sport online manual and didn't see one word about the view being restricted during online racing. SMH
Here is my take on the different views: Chase view (behind the car) gives the best perspective, by a long shot. You can see much further ahead most of the time, you can see exactly what your car is doing, and you have a great view of all the cars around you. The only drawbacks to chase view are 1) you have to press a button to see the rear view, and 2) the lack of immersion/realism provided by most of the other views. And I have to admit, the sensation of speed and the immersion factor are outstanding in all of the other views. Maybe I'm accustomed to the chase view from all the previous GT games.