Perhaps exciting isn't the right word. Engaging? Interesting?
I think any fantasy track should be attempting to provide an experience. That experience doesn't have to be "YEAH! RAD! SUPER EXCITEMENT WOO WOO!" all the time. It could be a
peaceful drive down a coastal road. It could be anything.
Technically, I suppose it could also be driving on a motorway beside some commercial offices. But if you're going to make something, that seems sort of a waste to me. For starters, half the people with real cars probably do that five days a week already. And while there are some people out there who no doubt think to themselves "Yeah, I'd love to go cruise the motorway around the commercial district" I'd have to think that they're few and far between compared to those who would appreciate a street track through a scenic part of the city, or some spectacular countryside, or near some fabulous landmark.
But if you must do a motorway through a commercial district, how about one that
actually has something going on. Like a race. There is no motorsports event on earth that is as dead as that Tokyo track. GT1 tracks had more in the way of spectators and race atmosphere.
So no, it doesn't have to be. But I think if someone is going to spend 2+ years artisanally (that can't be a word...) building a track then there's
got to be something more valuable to the players to spend that time on than what we saw. It's a questionable setting for a track to start with, and even then they've done it in the most unengaging way possible. It is literally a road with some buildings beside it. Woo.
Compare to R246, which is hardly the height of track design either, but at least it looks like there's actually a race going on. There's spectator stands, there's signage, there's catch fencing to stop the cars from flying off the track. It's fantasy, but they actually put some effort into thinking "what would it look like if we really held a race around here?"