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There are a million better options then mimicking one of the worst parts of capitalism
Capitalism is just a system, an economic system. Like other systems (govt, religion, etc), they are not inherently good or bad. It is the human factor that creates the good and bad (and even there only in relation to our own interests/outcomes). One could argue that financing was also one of the best things for capitalism, as it allowed the middle class to thrive and obtain things that they never would have (or had to save for a very long time for), thereby decreasing the divisions of class in society ( and a strong middle class is one of the keys to any successful society supposedly). Imagine if you had to save for every major purchase in life: auto, house, college/secondary ed. Many more people would go without, and as a result we would have a greater divide of haves and have-nots. Having said that, in this country we suffer at the hands of a consumerist culture (human failing) and lack of education that causes too many to put themselves in irrecoverable/irresponsible debt (which is not the fault of the borrowing concept iteself).
Off the pedestal now, I like your idea of the sponsorships in the game. I also think if they kept an XP system it would be better used as a way to match you up and progress your "career" in GT (better sponsors/racing leagues/events and competition), also acting like the payout multiplier when winning races. Not the sort of artificial lockout as it is used in GT5.