The Wave Race games usually felt like demonstrations of the hardware, mostly. The N64 one was what, the fifth game on that platform? Still plays really well, one of the better racers on that platform (and N64 had a LOT). The water physics must've been great at the time.
Likewise the GC version with its changing tides, shimmering reflections and fish visible below feels similarly show-offy. Suppose Luigi's Mansion was kinda similar with its impressive lighting effects and all the little subtleties in Luigi's animations.
Honestly the lil' Cube had a pretty good launch line-up. No Mario 64 sized blockbuster perhaps, but with these 2, Monkey Ball, Rogue Leader, the Crazy Taxi port and Tony Hawk 3 it wasn't a bad start imo.