Initially I was somewhat concerned about this, as the Chaffee isn't actually all that fast for a light tank. Wargaming's CGI-heavy trailer did little to allay my concerns.
However, someone linked me actual in-game footage, and my concerns are now allayed. The Chaffee Sport editions used in this mode are fast, seemingly only partially affected by gravity, drift like crazy, and can even drive on the roof of a warehouse on Port. I've always been fond of the ELC races my clan does on patch days, so something with actually enforceable rules piques my interest.