I think racing out at LS is more recreational. You may have 10 bikes lined up, but I am willing to bet at least 2 people in that line up are racing each other, and not everyone else. Just for braggin rights. Just happens to be others along for the race as well.
I know when I watch people race, I am normally watching 2 or more of my friends race each other. If we cannot tell who won, they go again. I normally won’t watch unless I know someone racing, or I am taking a break.