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Reminds me of a dustup I saw around 1989 at the Monterey Bay Historics at Laguna Seca. These "races" are really a gentlemans race, a fast parade...the rules state that great care should be taken to avoid crashes. If someone is on your tail, you wave them by.
My buddy has a 56 Corvette he enters each year. There are racing classes from the steam era through recent F1.
The mid-60's class, populated with classic Mustangs (Boss 302's, CA Specials, Fastbacks, etc) and Camaro's/Z28's got out of hand... those guys tend towards too much machismo...and about 9 or 10 cars wrecked. The whole place was as PO'd as they were saddened to see so many classics ruined.
Major damage, but, I doubt any of the Corvettes are even closed to totaled. Takes a lot to bend those frames and parts are widely available. Looks like a 68-69 Camaro RS on the left? I bet that thing would be tough to fix$.