I've seen drifting and, IMO, wasn't really impressed by it and wouldn't really care to watch it again. I compare it to syncronized swimming or dancing, but with cars.
To me, its just a big waste of fuel and tires and with the high cost of fuel these days, it wouldn't be worth it. And who knows what kind of costs are involved in repairs after subjecting a car to all that, especially the engine and transmission.
I don't see the popularity of it lasting very long once they run out of different ways of doing it. Just like the NBA Slam Dunk contest, for example. How many times have you seen the same types of dunks year after year? Initially, they were unique (i.e. Jordan slamming from the free throw line, blind folded slam, etc.), but they get old. Now, nobody really cares because there's nothing that anybody hasn't seen before. I see the same thing happening with drifting. It may be the thing now, but it will fade away after everybody has "been there and seen that".
That's what I've noticed, but I could be wrong.
Just my 2 cents.