Their fuel consumption is about the same, what externalities are you referring to?

Sure, if you're talking about high-power cars (M2, Corvette, etc). A Miata or Civic Type R will get far better fuel consumption.

And there's also wear on the road, noise, and damage to property and people when accidents happen (physics is a bitch).

Sure, if you’re talking about high-power trucks (F350, Ram 3500). A Ford Maverick hybrid will get far better fuel consumption.

I think more sports cars are burning out, revving loudly (or getting modified to take out their mufflers), and the damage from going a lot faster creates more damage.

It might depend on where you live. Nine times out of then when a vehicle with an obnoxiously loud and high revved gear vehicle drives by it's a truck. Probably more like 95% of the time.

Around here, it's usually beater Accords or other random generic sedans. With fake LEds, slammed to the ground, and lots of dents.

No, you just don’t dislike them enough to find them.