Speedrunners have built tools for some games (most Valve games if I'm recalling correctly) that monitor times, while excluding loading screens. Obviously this is a separate category, and both curiously exist for games with a built-in timer (GDQ ignores in-game timers, for example).
There's actually a whole scripting language for reading values from games' memory and extract events for timing and progress:
https://github.com/LiveSplit/LiveSplit/blob/master/Documenta...
This particular speedrun is much more tied to the hardware, but that's part of the fun for these people. It might make more sense if you compare it to something like car racing. Both the hardware and the person matter a lot to the outcome.