Keep in mind that a lot of historic tracks are on threat of shutdown due to the noise of the racing events, especially F1, Spa being the most famous I'd say.
http://www.autoblog.com/2009/11/28/b...portedly-safe/
It's an old article, but the noise issue was a concern, and could be again in the future if enough people complain.
So here's the thing. Obviously right now the exhausts are tuned for performance. In essence the complainers would say "decrease performance for the sake of noise". I'm sure they could make the exhausts louder by doing some fancy exhaust work, but it would result in a loss of power somewhere. You can keep the "entertainment" I'll take technology advancements and speed.