A 1000 horsepower street car is a monumental waste of money, imo. Bragging rights, street cred, just to say you have it, what have you... that's it.
With that much power, even the most responsible individual will succumb to its allure and could end up getting hurt, or worse, hurt others. Even if all the other systems in the car are there to support it such as driveline, brakes, etc.; it's still a ridiculously fast car being driven by a person capable of irrational thought.
Not to mention, you're breaking the law already at an 1/8th throttle. Never underestimate the appeal in driving a slow car like it's a fast one. This is the appeal behind things like Miatas. You get to wring them out.