It reads as an "and" statement, not an "or" statement.

You have to be engaging in inter/intrastate commerce AND operating a vehicle that fits the CDL requirements. If you are not engaging in interstate commerce, you are not subject to CDL rules regardless of vehicle weight. A good example is the RV mentioned above, many RV's are over 26001 GVWR, but just the act of driving an RV for pleasure does not require a CDL in 46 of 50 states, regardless of the weight of an RV. It can even have air brakes, you are not driving commercially so a CDL is not required in most states.

Additional info:

http://changingears.com/rv-sec-state-rv-license.shtml

Note that only 4 states total require you to have a CDL when driving an RV, and only for >26k and/or longer than 45'. Every other state does not require a CDL regardless of weight.

Also, if you are engaging in interstate commerce, if the vehicle is below the requirements listed in the chart, you do not need a CDL either.

Edit: where you can get held up is if the officer interprets bracket racing with a payout as "engaging in intrastate commerce". Then you're stuck paying the fine unless you take the ticket to court.

I know of several guys that race NHRA divisionals, their large toterhomes are registered as RV's and they have never had issues with police.