$5k? I think an AC system will be unlikely to cost less than double that once development costs are accounted for and I wouldn't be one bit surprised if it runs well into 6 figures. An unfortunate fact with motors is the more power you want to get out of them, the heavier they need to be and 10 seconds might seem like a short amount of time to us but it's an extremely long time to electricity, more than enough for thermal runaway to turn any motor to scrap.
And the sad part is that once the idea catches on then all those expensive AC parts are almost certainly going to get decimated by DC systems built from a few hundred dollars worth of parts from a junkyard. There are a few of simple reasons for that:
Weight is a limiting factor and with torque cancelling a simple relay is all that's needed for DC, the lightest AC controllers I've come across for those power levels are over 3kg (the same weight as a small saw).
Electromagnets are more powerful than permanent magnets. No doubt AC beats DC hands down for efficiency but 2 electromagnets give more force than an electromagnet and a permanent magnet.
Drag race tuning is a money game, for the most part he who pays wins. It comes down to who can afford to blow up the most engines, the tuner with the budget to test 100 engines to destruction is going to get more power than the tuner who can only afford to blow up 10. Exactly the same thing applies to electric, with an unlimited budget it might be possible to build an efficient and extremely powerful AC system for this job but unlimited budgets are extremely scarce and the guy who's picking up DC motors from the junkyard for $100 a time (starters, hydraulic powerpacks, forklifts, etc.) can do 20x the testing of the guy who's fried a single $2000 AC motor.
It's not as established as engine tuning, an unlimited budget would likely be best spent on the technical aspects of the problem for now (permanent magnets simply aren't going to win out when power to weight is the target imo). AC has every chance of coming out on top at some point because it will ultimately come down to getting rid of waste heat and AC will almost certainly stay top dog for efficiency but with a limited budget and the current state of tech DC will almost certainly come out on top on the leaderboard.
EDIT: It will be interesting to see what happens to chains if this catches on. Engine power drove tyre tech hard with drag racing and the chain is already a major limitation with IC engines, electric can get more outright power than IC for the same weight and can give much better power curves, a power ceiling might well be reached that can only be overcome with better chains.