they created FO like world, its just an asteroid that destroyed earth and not nukes and some kind of arks instead of vaults ...
they also tried to put in some mad max like gameplay with the cars.
the only problem is as you said the whole concept i would love if they turned down the racing and make it more like a "minigame" like it was in KOTOR and make it into an rpg but its obvious that this will never happen
the funniest thing about this that even thism non RPG FPS game, featuring more interesting options than FO3:
An engineering system to craft devices including sentry turrets and RC car bombs, if you have the blueprints and parts.
Races and missions are available from hub towns.
Weapon upgrades, such as a scope and aiming stabilisers etc, Alternate ammo types, all impacting game play and not just different animation and damage kinda weapons.
Stealth is an option in combat too.
A gladiatorial game show named Mutant Bash TV offers big prize money.