My understanding of rules and traction control is a device or controler sensing wheelspin and reacting to stop it.
If you are able to limit the power of the engine to prevent wheelspin is not the same.
JL222
I would say that is correct if you limit the “speed” it is really just a governor, so set the speed to 300mph put your foot down and hang on.
The only problem is if you get wheel spin at 150mph and they run up to 300 mph before the “governor” kicks in, things could get interesting.
If however there were sensors pick up the wheel spin and react to apply brakes, retard ignition, cut fuel, reduce boost or whatever we are back to traction control.
I do like the concept of Don’s Slipometer (have sent email) as I think this may well be best way round within the spirit & letter of the rules (well, DLRA at least)