And in all cases, the purpose is to compete to see who can hit the target the best using a device design to kill stuff where hitting the targets the best is the goal.
A car can be used on a race track to compete against each other, as well, but that isn't what is was designed to normally do.
And more than that: a car that can be used for sporting purposes isn't normally street legal at all, since in most cases its high performance comes at the expense of road safety.
Applying this same logic to guns, the only firearms that should be legal in this country are hunting rifles and bench rifles, and then only for people who are licensed and trained. Shotguns on a per-permit basis.
How much time do you spend on the track? Most amateurs that I've encountered don't own trailer queens. Maybe we should ban cars as fast or faster than Miatas because they're commonly used in autocrosses.