Shorty is correct to a point. There are simulators and then there are simulators. Many simulate the experience of driving to one degree or another, while some simulate the nuts and bolts. It is an approximation. The best are the ones that can cheat and still convince players that they are getting a true simulation. The catch is that even the best "simulator" driving games we have today, such as Gran Turismo, simplify the car models to one degree or another. They have a finite pool of processing headroom and they have to strike a balance between the simulation (car modeling) and the experience (graphics, audio, etc). For games like Forza and Gran Turismo, physics processing will generally take a backseat to graphics performance.
The fact that gamers are oblivious to this just shows how good they are at it.
I say he is correct to a point in the sense that BeamNG might be a more robust simulation than your average racing game, it is still being held back by consumer level processing. I've love to see what they can accomplish using the processing hardware that accompany a Level-D simulator.
Still, its pretty cool that gamers have access to this type of software.