I think these three games' failures, coming so soon together, may have killed the entire arcade racing genre. The Need for Speed and Forza Horizon series are just about the only arcade racers still being made, and both are much closer to the "simcade" end of the spectrum, with their focus on real cars and tuning. MotorStorm: Apocalypse the following year, with its incredibly unfortunate timing of coming out just days after the 2011 Japanese earthquake and tsunami, was the final nail in the coffin. For most of the decade since, racing games have been dominated by sims like Forza Motorsport, Gran Turismo, Project CARS, and Assetto Corsa, each trying to outdo the others in dedication to realism.
The only pure arcade-style, non-simcade racing game I can think of that's been a huge success in the last decade has been Grand Theft Auto Online, especially with the Stunt Race update adding more over-the-top courses beyond just street racing. And racing isn't even the primary focus of that game.