You have to be very naive to believe that a team of 3 people was able to make an outstanding model of tire physics, which cannot be done by large teams of developers of other race simulators. I don't.
Life For Speed had a great start. I personally remember how cool and fun keyboard control was when there were keyboard assistants. In some patch, the keyboard assistants were later removed (just before new to that time tire physics as I remember). If the developers could sell that physics model in order to insert such driving physics into another game like GTA, it would be a bomb blast and a revolution in the realism of that another game.
It is unlikely that the cozy indie LFS has a big future, there are too many competitors nowadays.
But I believe that the thoughtfulness of Live For Speed can turn it to a great game engine, like Source or Unreal, but for the auto racing niche. Just think how cool a driving training simulator for beginners would look like on an LFS engine. Realistic city, realistic controls, realistic physics, realistic AI - you could learn to drive a car right from home.