Street racing is entirely too dangerous and of course illegal. You don't have to race to take part in the street scene, which in that scenario the actual power to weight ratio is somewhat irrelevant in itself. What is relevant to me, personally, is the ambience that surrounds a supercharged radically cammed V8 rumbling down the street. That will give me goosebumps every time. The power is in it's growl, not necessarily it's bite. I don't know how you replicate that in an electric vehicle and I think that feeling transfers to the racetrack as well. I would rather watch a 3-4 second top fuel race rather than a 2-3 second electric car race.
Oh yeah if you ever do happen to catch one of those top fuel events don't miss watching them rebuild the engines and the 'let's make sure it runs' startups. The fumes will cause tears in your eyes and your lungs will hurt but it's as good or better than the actual race.