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What is CRT then? you can buy a chassis from a chassis manufacturer and an engine an tune it. Or buy an ART, no difference to what you could buy then the factories still won.
People will say but you have no chance of winning, I think the last privateer win in the top class was 1980 Jack Middleburg. The last true privateer podium was Makenzie on the ROC (half the field depleted thanks to Doohan) Barros got one on the NSRV but did have factory backing. In the first year of CRT they are closer than the first year of ROC/Harris and NSRV, where being lapped just once was considrered an achievement.
The difference is now you have a more proffesional structure, Abraham is an owner/rider but still has a contracted team structure, which you had in 92 but some far worse underfunded teams than now. One always springs to mind was Peter Graves who to his credit somehow managed to get his bike on the grid and gave Simon Crafer his big break after his entry being refused.