I've noticed this on both 02s, problem is you get some very annoying resonance if you try to fix it by lowering tone variation. Cockpit muffling fixes some of it, but as you said, it should sound more "raw". I will find a solution for both cars by the next update.
This is actually intentional since it was inspired by modern touring cars. The driver should feel low to the ground, plus you can see more of the dashboard. Visibility is compromised but in my opinion still adequate. I will change the seat/seatbelts however, so maybe the view will be moved around slightly.
The high inertia is just a remnant from the "old" engine which I forgot to change . It was supposed to have a 4L naturally aspirated engine (which obviously has more rotating mass). This will be changed before going public.
As for the power, I have no plans of changing that. There are plenty of powerful hotlap-monsters out there already. I want this to be an entry level race car which puts drivability/fun first. Keep in mind, there are road tires available which make ~300hp/ton feel waaaay more powerful.