Speed has significant previous. From his moment in ARCA with Ricky Steinhouse to being thrown out of F1 when he annoyed his team owner so much they almost came to blows.
He’s even deliberately hit people before in iRacing and his “apology,” (conflating an accidental hit with several deliberate attempts to wreck an opponent), is laughable. All the more so because it talks about being a “man” following an incident where he totally lost any self-control in a video game.
The reason iRacing survives is because the mixture of subscription fee, iRating and Safety Rating is supposed to help protect you from the sort of idiotic morons who run rampant in public server racing. If they lose that then they lose their major differentiation point to the other sims.
Sim racing can get serious. You might spend hours preparing for a race, and the race itself might be hours long. So if you get wrecked out, it can make you upset.
That said all reputable sim leagues, and iRacings paid model have controls in place for this kind of thing. In the league I run in stewards monitor the pace lap and first lap, as well as any protests.
The key is you have to respect your fellow drivers, which Mr. Speed apparently does not (at least when he gets angry)…