If we start applying rules to alleycats, there will inevitably be new races made without rules. You can't stop them; as long as there is there is the desire for outlaw races there will always be outlaw races. If you put sanctioned routes and required brakes and helmets in MonsterTrack, there will be a new race with the old rules.
And about the technology aspect: I for one appreciate the technological advancement that comes with the lack of regulations over equipment. Trying to get the advantage is what fuels progress. If rules like that were made in automotive racing when it first started, we'd still be using carbeurated engines that get 10 mpg and 30 hp in our everyday cars.