The classism against racing has always annoyed me.
(1.) Racing isn't cheap. It isn't cheap to attend compared to most other entertainment options, and goodness knows actually paying for a racing team requires some good modicum of capital.
(2.) Your average plumber makes much more money than your average English professor, but we all know which is the "prestige" or "upper-class" occupation. Just because Joe the plumber likes watching racing on the weekend or even going racing himself doesn't mean he is poor -- quite the opposite.
(3.) What the drivers do -- no matter the format, from dirt short tracks through F1 -- is incredible. To have that level of concentration, anticipation, and reaction time at those speeds and distances from each other with the forces being put on your body... for hours at a time. It's incredibly difficult.
(4.) Race teams are dealing with machines that are, frankly, space-age technology. So many innovations in safety, efficiency, and performance have started with race teams before finding their way to the ordinary production vehicles we all drive every day. Phil Jackson is a genius basketball coach, but knowing how to run the triangle offense effectively is pretty useless once you're away from the basketball court.
Knowing how to build, maintain, and repair high-performance cars, though... pretty useful.
Racing is built around practical skills and advanced technology. Can't say that about most sports.