Wreckfest 2 is a great game but simulation is quite expensive (specially for a revshare model) and we can't afford that at this moment.
By "fun over realism" we mean more focus on arcade physics and stylized graphics. Which means we want low poly artists.
As for the capability of our team. We will be releasing a horror game soon that is in its testing phase right now which has similar graphics:
The rally game project time is 1-2 months because we have the core modules (car physics, camera) ready and we just need the map done.