I guess it depends on what they were compensating for. Up until the 80's and 90's at least there was more association of racing cars with road cars that you could buy.

So that would associate you with the (A man's manly-man maybe?) driver of that car.

But now race cars are not really much like a production road car. And those older men with money don't necessarily want to be like the ever younger drivers being employed to win races.

As you say, ridiculous, but at least the sports cars were cool.