The game itself is essentially a mimic of Wipeout (the game, not the TV show). Personally, I'd have preferred a mash-up of both Wipeout's, or at the very least John Henson calling play-by-play for the game, but this was 2001, way before Wipeout revolutionized the form of television into what it has become today (no Wipeout, no Mad Men, no Breaking Bad).
The presentation of the game, in every aspect, is above average, but the inspiration and actual playing of the game is both rote and enervating. Pressing and holding the "X" button for an entire lap while mildly steering is not enjoyable, even on a base level.
It is baffling that Sony commissioned Santa Monica to make the game, when a full-fledged Wipeout was to be released the very next year. Possibly it was a training exercise, or a test of capabilities for the studio that would go on to make God of War and so many other truly original games.
All in all, I can see enjoying this at the time if I were a child with siblings, but even with that condition there were so many more superior racing games available (even futuristic zero-gravity type games).
In case you were wondering, Adam Orth was one of 22 QA testers assigned to the game.