Purpose of the project

[fudje]

If "open data" is not in the same sentence, "open source" tends to be less confusing than "Free software" — it just sounds stupid to have open so many times in the same sentence.
I'd suggest avoiding directives ("must be") also. It actually makes the statement sound weaker. Should be in the process of acheiving goals, not determining what they are. Perhaps:

VDrift aims to be a high quality open source racing simulation featuring enjoyable and challenging gameplay. The project strives to take advantage of modern computing hardware to accurately simulate vehicle physics in rich and immersive racing environments. To meet these goals, VDrift maintains an open platform for experimentation to a cooperative community of creative programmers and artists.

(I also want to swap "cooperative community" around to "communist cooperative" :twisted: but that might be too political. Just a tad. Not much at all.)