Director mode: one video that switches between cameras as the race goes, like a race on TV. One camera for a whole run soon gets dull; switch to the driver for a close overtake, the helicopter over a long bend, trackside as you flash past.
Go to a moment and pick a camera: from there on the replay and the video use it, up to the next camera you pick. Each switch is a tick on the timeline. Dashboard on or off goes with the switch you are in, and Remove position takes it out. A switch can also be a transition: the camera flies over from the one before, out of the driver's seat or into it too.
Keys: D director mode on or off, C the next camera, T cut or transition, X remove the position you are in.