El Mirage is a club based event and people show up for decades, even when a record is not realistic.
To keep the legacy cars running, the points system permits them to compete and acquire points, to make it fun for them.
So there are two things going: El Mirage Records, and the Elmo points competition.
Without the points competition, there might not be enough entries to even hold an Elmo event.
But, it causes conflicts between the two.
There was an entry that was very sweet, and well engineered, but had to run against a 130mph minimum. For his engine type, that was a stretch in a full sized truck. He could get close, but couldn't hit the number. Then some animal with a late model engine pushed the record so high as to be out of range for them. I think he should have gotten a record at 125(?). He wasn't in the points chase. AFAIK, they retired SCTA operations when the late model entry ran the record up.
In a dream world, there would "records" that were under the Elmo Minimum, but not eligible for points until they pass the minimum.
It's hard to tell if the minimums scare new racers away. But if they do, something should be adjusted. If they don't have any effect, then by all means, leave it alone.