Even if an update with peerless physics were released tomorrow, there'd still be the flat, featureless tracks, that for many who've tried iRacing, they won't want to go back to.
If you know you won't, in the end, pay for iRacing, then I'd seriously suggest staying well away from the free demos - it will likely ruin everything else for you. I dislike almost everything about iRacing (still) and tried it just to compare the physics, but the on-track experience of feeling connected to the road, bumps and undulations means I can't see the point of any other sim.
Scavier's decision to keep their precious little hobby to themselves and not use the goodwill and assistance available in the community to spread the workload means it hasn't, and can never keep up, and will get further behind. I wish they'd contract out some tasks. Surely it must be possible to do so without compromising control and ownership of the result?
Maybe I'm bonkers, but there's something so irritating about Scavier's stance, that I refused to pay, yet now I've subscribed to bloody iRacing! It's such a wasted opportunity, LFS. I wish they'd get their arses in gear so I could tell iRacing to f-off. But can't see it happening.