One game that I loved (and really not for the graphics), was F1 Beyond The Limit on Sega CD. It's the only console game I know of that featured not just the teams and drivers, but the team principals as well. Not making the grade? Gerard Larrousse would appear and fire you!
Also fun, it replicated the prior F1 season in terms of revolving drivers and car upgrades. Ukyo Katayama got the new Tyrrell 021 a few races into the season after starting with the 020B. What other console games bring Marco Apicella in to be your teammate?
While not much of a "looker" in retrospect, the game had a lot going for it and pushed the envelope in its day.