You do realise that it is a government initiative aimed at propping up the new car industry? The irony being, as you stated, that hobby motoring is perhaps of greater economic benifit.
I think what really needs to happen is a shift from baby boomers to generation Y in governence, which realistically will take another decade. Potentially by then though, gen Y will be over imports and will have the wealth to afford brand new cars, forgetting all about the plight of every young man going through the vehicle modification phase. Damn vicious cycle!
Don't let me put you off though!