Bob, you are asking a good question. My books about land speed racing in the early days show a young crowd having fun racing all sorts of street based stuff. Most were blue collar working guys and gals. Lately young people with jobs are lucky and good paying blue collar work is scarce. It costs big money just to build a car and creating a record setting auto is beyond almost all people's budget, young or old.
There are a few good ideas at BUB that others could use. There is no competition for total points at year's end. This removes the incentive for fast people to sweep all of the classes they can enter and win. This leaves more opportunities for other less talented racers to get records. BUB also has coins for various speeds such as 100 mph, 150 mph, 200 mph, etc. This gives a person something to take home after the meet in addition to a time slip. It is sort of like the USFRA 130 and 150 clubs. The rule changes are a bit more structured and sensible, too. This is a big, big, deal for a low budget guy.
My feelings are that it is possible to have land speed racing events for lots of people who are not high rollers. First, there needs to be something for them to win besides records. Second, some limits need to be placed on the gifted so they do not grab everything. Perhaps only being allowed to enter in one class per meet? Third, rule changes need to be carefully done with as much advance notice as possible. That is all I can think of for now. I hope it helps.