I suppose GT is a bit far removed from reality in that sense, then. However, in that respect, I guess the real emphasis is on the progress; in being able to gradually amass more money and progressively afford "better" cars, akin to the item / abilities / gear "leveling" in most modern RPGs (which I suppose is where the "GT is an RPG" argument comes from).
In the same way that PC sims are a vehicle for experiencing the particular motorsport niche of interest, perhaps GT is more a vehicle for "experiencing" the individual cars in a range of motoring situations. Which is why the physics are so important, and also why, I feel, GT excels at the characterisation of cars (accurately or otherwise) and translates the virtual idiosyncrasies of fundamentally similar cars - an example immediately in my mind from a few shuffle races recntly: I drove a Celica SS-II (T230), a Clio Sport 2.0 (well, "Lutécia") and an EP Type-R on Eiger back-to-back, and each one was very distinct in the way it handled the different speed corners, down to the steering response and the way the engine "felt" running through the gears - you know, how they drove.
Again, I can't comment on how accurate the experience was, but I think characterisation itself must be heralded as quite an achievement.
I will concede the physics have their flaws, gaping holes even at times, and the racing framework is sub-par compared with other games, but those other games don't have the character or range that GT has, so it really is a case of swings and roundabouts.