It's good fun and a good nostalgia kick but could be improved.
The graphics and general gameplay are good and fun, it doesn't take itself too seriously, it's a Hit Wheels game after all, not a simulator.
The tracks are fun and dynamic although there isn't a huge selection of developer made tracks, plenty of custom maps to play in Multiplayer and some very creative tracks along with some very bad tracks.
The racing itself is fun, the drifting can be rewarding or brutal depending on car and skill and there is a fairly good amount of content especially if you play Multiplayer too or with friends.
A good variety of vehicles with different stats mean you can frequently rotate your vehicle choice and the option to upgrade your favourites is a nice touch.
Track builder is interesting, plenty of options and fairly fluid system to build your own tracks although the controls could be better.
Difficulty is a bit weird, Easy is really easy and fun if you just want to win, Medium is a stronger challenge but perfectly doable if you drive well and pick the right vehicle, hard is pretty brutal.
Don't compare this to Mario Kart or Need for Speed, it's not trying to be either, it's fun and I haven't found it to be too repetitive yet.
Depending on how much you like these types of games depends on buying at full price but definitely worth it if you can get it on sale and worth a go if you're looking for something new.