You have to admit the biggest steps in sim racing (that means physics wise mostly) were done by Papyrus and their NASCAR titles, not to forget GPL of course!
But I guess LFS comes right after. For example look at the sound. Sound in a sim racing is important for knowing in which state the car is by any means. LFS generates sound itself in a way, other simulations used and still use samples. Driving with these synthetic sounds feels much more direct and realistic, though of course the sound generation is not perfect yet.
Also the tyre model is pretty unique. The way tyre flex is simulated and that it's even visible is a very big step in physics development I think, although it turned out the model is a bit faulty and has to be looked into now again.
You see these things aren't perfectly put into practice but the ideas generally speaking are great. And that the physics are written by only one person really is a big achievement!
So being honest you have to give huge credits. :thumb3d:
If only they would tell us something about if/how it all is progressing.