Our ears aren't the best, so it's possible that our criticism isn't 100% valid to others. A disclaimer.
This song certainly grasps the spirit of a VGM, especially ones from an older generation or with a "simplistic" sound font. We admit, sometimes VGM aren't really our cup of tea, but we're starting to appreciate them more, and how iconic it can become throughout communities, both online and offline.
The usage of adding chiptune and other "bit-crushed" like samples is a chef's kiss, especially the vocals. We were originally thinking that the car whooshing sample being bit-crushed would've been better, but we decided that if it were, then it would be more... unrecognizable. The orchestral instruments feel a bit MIDI-like and synthetic, but this seems understandable, as more realistically sounding VSTs are... quite expensive. And we're also lazy to modulate them to sound more real.
The main criticism we had were the volume of the music and other instruments being loud, and the ending and some parts feeling a bit off-beat. It could just be us, but it was somewhat a pet peeve that slightly was annoying.
In general, I believe the atmosphere of playing an old racing game is there, and the background noises make it feel more hibernal. I will give my kudos for this.