That is a good point.

Has any racer gone full “Type 93 Torpedo” and used pure oxygen, or even liquid oxygen to out do the competition?

https://en.wikipedia.org/wiki/Type_93_torpedo

sample quote

The Type 93 torpedo had a main chamber filled with pure compressed oxygen, a joint regulator valve preventing reverse flow, and a small (approximately 13-liter) high-pressure air tank. First, compressed air was mixed with fuel, and the mixture was supplied to a heat starter. Ignition started gently, with the mixture burning steadily in the engine (if oxygen was used at this stage, explosions were common). As the compressed air was consumed and lost pressure, high-pressure oxygen was supplied from the main chamber through the joint valve into the compressed air tank. Soon the air tank was filled with pure oxygen, and combustion continued in the engine.

end quote

If as few as one tracer bullet from an attacking airplane hit a Type 93 at its pure oxygen tank, the exploding torpedo could sink the vessel, so Japanese Captains began shooting off all their torpedos at the first sign of an attacking airplane