We'll have to disagree. Perhaps instead of seeing it as justification of their actions on public roads these thugs see how racing cars is as a sport and/or under closed road conditions and decide to take it up in a safe environment? Since the message is that society will only tolerate driving fast on public roads if they're closed, barricaded off, use cars designed for the purpose, with a proper set of safety equipment, support personnel, paramedics every 100 yards, safety cars, systems to warn of incidents ahead and trained and experienced professional drivers. It'll put into context just what is required to allow fast driving and expose the risks even more to them. Just like we tolerate boxing in a ring, with safety equipment, paramedics, support staff, a referee. Despite what you might think of these thugs give them a little bit of credit for their learning potential.
It's about as unlikely that it'll encourage them any more than Jamie Oliver using a kitchen knife on t.v. encourages a thug to go out and stab someone.