It would be interesting to have the perspective of an air racer. I did their training course a few years ago and it was quite interesting. I have never competed. It comes under the Royal Aero Club. Whether the leave behind a queue of dissatisfied neighbours and airfield managers is difficult to comment on, but I have not heard that they have. Quite a number of the venues are repeated year after year so they obviously don't upset too many!
Surely the Schneider Trophy is not the only award from the heyday of aviation and motor sport still awarded? Segrave Trophy, for example. Exactly how do you compare the achievements of one generation with another?