For me, the less realistic the racer, the better. That isn't to say I don't like depth (since I equate "realistic racer" with GT), since that's something I'd appreciate it any game I'm playing.
I'd prefer a Mario Kart with greater emphasis on additional elements that foster a stronger offense/defense mechanic, since the chief complaints are blue shells and rubber banding. Give me a reason to feel like there's a second layer of strategy to the main course, almost like you get with fighting games. If Mario Kart went that way - and I doubt it ever would since Double Dash pissed off too many people - then I'd
also prefer that it retained an "arcade mode" of sorts for multiplayer purposes.
I think that was the original intent of Mario Kart - taking a genre and injecting an element just crazy enough to make the whole thing more accessible, but still retain a system where skill is rewarded.
F-Zero, by the way, gives the purest form of
raw speed of any racing game I've ever played. To be fair, it's not a grenre I play a lot of. It simply doesn't

around and doesn't care if you suck. You'll die and either get better, or you'll die and whine. Definitely a different mode of thinking around the game's entire mantra.
As a final aside, while I said I apprecaite depth, Dotstream is some amazing ish though, despite its obvious simplicity. That minimalist example is a great "less is more" study. I love that game.