I have a race license and have spent countless hours on the track. It's great fun and there are, of course, better track cars out there than a Model S. I am really anxious to see the electric GT series, and am especially interested in how they will deal with cooling. But even my race car has aux cooling (external oil cooler). A Model 3 with a frunk full of heat exchanger might make an incredible track car. Also Porsche green-lighted (lit?) the MissionE. So whenever that car gets built, it will certainly be able to circumvent a track at speed. Battery cooling won't be an EV issue forever. My wife has a new BMW. It's a nice car. I don't really have anything bad to say about it, but I much prefer my car.
FYI... Most ICE motors, in order to remain 'cool' operate in a range of roughly 200° Fahrenheit to as much as 500° Fahrenheit. The battery pack in a Tesla Model S must maintain a range of about 65° Fahrenheit to no more than 95° Fahrenheit in order to stay in the most optimum performance range. I'm not aware of too many high performance vehicles that finish
'The Ring' with an internal operating temperature that matches room temperature.
The Model S can certainly be run successfully at speed -- on the highway. You could certainly finish a 15 mile run across I-10 or I-20 at 120 MPH if you wanted to do so. On a short, closed course, where there are swift changes in elevation, sharp turns, maximum braking, followed by maximum acceleration, multiple times, over, and over, and over again...? Well, the system is designed to protect itself from such extremes for the sake of longevity. It likely monitors lots of things, pitch, yaw, acceleration, deceleration, traction, and others along with temperature... And if it determines the system is being stressed beyond the norm, it limits performance to keep it from killing itself.
The redline for tachometer or temperature gauge on an ICE is basically just a warning. But if you keep going, more often than not, the system will just break -- because you told it to. A Tesla Motors product is a little smarter than that. So, it tries to save itself, while also saving you the repair bills.
Maybe the time will come when a more robust heat exchange system is developed, so that the batteries can be kept in their optimum range more easily. Maybe batteries will be developed that have a wider optimum temperature range, so less stress is placed on cooling systems. Maybe it will be a combination of both? But without doubt, the ability to
'track' an electric car without compromise will definitely happen before long, and much sooner than many ICE fans think.