While RF2 is a good platform, The engine has a few major problems that in my opinion doesn't make it fit for competition.

The physics is fairly complex, and this is the best thing with RF2, the physics is awesome!

But it requires a lot of power. And it runs on a single core on the CPU, meaning that a modern CPU can have problems with the game. This can cause the game to stutter, freezing you on track, so you can lose time in an online race. And if you go below 60fps, the physics starts affecting your laptimes!

If the engine is modernized, gets multi core support and finally get new menu system they have worked on for years now, then it would be a good game for competition.