I would not say GRID recreates the excitement of racing, like it was mentioned earlier, it overstates the action, like an action movie.
if you watch an actual recorded race, say ALMS or Le Mans, then Grid and GT you'll will see what i mean.
I'll probably get GRID ( i have DIRT/MotorStorm ) mostly to play when my friends are around, It's nice to play these games once in a while ... it just gets old pretty quick. Otherwise i'll be playing GT.
Arguably, going around a circuit in a monotonous -no flash- car with ok sounds and nearly no "action" or "excitement" gets old quickly as well... it really depends on the point of view.
The person who did the view clearly took side with GRID, but [understandably] everyone here takes the side of GT5. Which technically is not better.
On the grand scheme of things, every single racing games can be compared to any others, as they are at their core, a racing game. a good example of that is Need for SPeed underground. However everyone here wants to put it, it does things a lot better then GT4/5... Night Races is one, Car Sounds is another. And as of now, i haven't seen a better game to do it then NFS:U. So in this instance, comparing an "arcade" game with a "simulation" game is valid, since adding nice night environments and awesome car sounds to GT5 would indeed make it better.
Now Grid, since this is the subject of the conversation, does a few things a lot better then GT5; mainly Draw attention to itself, promote better excitement and supports what seems to be extremely cool damage physics. Taking these concepts would only make GT5 better, not worst. So again, comparing Grid and GT5 is valid under those statements. Arcade or not.
Finally, watching races on tv is fun, but its long as well. hence why most games only support 3-5 lap races. Because, except the hardcore sim/race fans [like us], everyone else don't give a rat's ass about enduro races. They want to have fun "NOW"; which unfortunately, GT5 doesn't do as well as Grid in this instance.