It was definitely more production-based than the 911 GT1 and CLK GTR that appeared for 1997...
True, I give you that.
For some reason, if you have a class called GT1 it is doome to fail.
1999 - all original GT1s had been withdrawn after the massive overspending of factory teams had led to vicious cycle, plus the dominance of Mercedes drove everyone away from FIA GT
2010 - new GT1 is finelly killed off by the ACO, after slow decline in entry numbers that had been going on for a few years; stays only alive in the SRO world championship
2011 - new GT1 officially dies as SRO bans them from their on GT1 world championship
201X - over spending in GTE/GT2 and/or GT3 leads to either death of class, or GT/GT+ starts it all over again and we end up with the similar situation once again in few years time
One really annoying thing, besides all the current BoP and waiver crap, is that current GT cars both in ACO and FIA spec are rather unspectacular and not too powerful in performance. I mean, I suppose GTE could be on the level of LMP2 if let run less restricted, but the organizers have some weird idea that GT car cannot be as fast as prototypes. They slowed down even the new GT1s all the time so that their precious prototypes wouldn't get hurt. Why? It's not time 90's anymore.
And on the FIA/SRO side you have the BoP-GT3 running mostly by itself, so no-one even gives a crap how fast they are. Yet they are faster every year, thanks to manufacturers spending huge amounts of cash for development that in the end is pointless because of the balancing.
Super GT500 is the fastest GT class out there now, but it too will be ruined now with the horrible DTM bodykits. GT300 is already beyond hope