That's just completely false. LFS's netcode is indeed great - I've had many good races with 300 ping. But to say that there are no others like it is just wrong.
iRacing's netcode is just as good, if not better that LFS's. I've raced literally door-to-door with a 350 ping, and not had that weird "Oh-I've-lagged-a-little-bit-Oh-now-I'm-kind-of-inside-the-other-guy-Oh-now-I'm-flying-across-the-map" issue.
Enough hating of LFS though.. I've had a good 5 or so years with the game, and definitely had my moneys worth. It's unfortunate that I've had to move on, but these things happen.