The problems with arcades is that they haven't adapted to new technology as quick as consoles have. There needs to be a fairly cheap arcade board that can pack some pixel pushing power that consoles simply can't touch. They also need a cabinet that while still being highly customizable, is also entirely changeable for the next iteration of games that come out. We need a cheap arcade cabinet that is not custom made for just one game. If there is to be a racing game in the arcade then the cabinet needs to be future proof for other racing games.
Things need to be cheap and future proof, until then the arcade will remain a part of history.