In practical terms this is irrelevant, as most well-executed race shots use much lower shutter speeds anyway (combined with panning) to give a controlled amount of motion blur to convey a sense of speed and motion. Unless the car is upside-down in mid-air, completely freezing the motion makes it looked like it is parked.
Physics is never irrelevant, even in practical terms!
Are you familiar with mercedes' flying cars at the 1999 LeMans 24 hour? 3 times one of their cars "flew" off the track, upside-down, in mid-air at about 240 MPH!
But I get your point--it is a small difference.