The Version 1.0.8 update somehow managed to make this trope go From Bad to Worse by nerfing a lot of the credit rewards for winning races coupled with a server outage to fix corrupted issues with said patch, the backlash was so severe that players were granted a million free credits and a promise from Kazunori Yamauchi to make payouts more generous as well as more ways to make money.
The game has been challenged by Microsoft's Forza series of games, which use the same basic formula but adds in custom paint jobs (until Sport came along), car damage and (in the Horizon series) open worlds, at the (initial) expense of a huge car list.
While not a full-on simulation (as it lacked car damage in earlier titles among other things), the handling model of the game is definitely at the realism end of the spectrum, the game's subtitle being 'The Real Driving Simulator'.
The player must earn the right to compete in harder races by passing license tests that teach proper racing techniques, such as using racing lines and late braking. Each game has a large selection of cars for the player to purchase, from second-hand classics to cutting-edge modern cars and sometimes beyond, into concept car territory. The games are known for their high production value and visual fidelity. A long-running driving game franchise by Polyphony Digital on Sony consoles, starting on the PlayStation in 1997.