There are a few reasons why I think motorsport will (and should) change:

• The differences between different EVs will be reduced in any balance of power to basically make it all a one-make series. You won't have a front-engine straight six all-wheel drive car, racing against a front-engine V8 rear-wheel drive, against a mid-engine V10 and so on. There won't be multiple solutions to solve a problem, it will just be different manufacturers making the same solution. (This is better for showing off which driver is better, but in that case, you could just do sim racing)
• Endurance racing will be over. You can't recharge fast enough to make it reasonable. And since there will be fewer parts to fail, there won't really be any endurance.
• F1 today is just a few teams that do everything they can to break the rules even though they have clearly better cars than the rest of the also-rans. It is too much money, and too much special dispensation given to Ferrari. It is too corrupt and isn't good racing. It will easily change over to EVs and people will think things are great, but F1 is a mess today that isn't worth watching. It will still be a disgraceful mess later.
• Grassroots will be dead. Today you can buy a car that one of the race cars is based off of. You can modify your street car in different ways. You can go to track days or enter little MX-5, Rallycross, or TCR races with cars that you've modified and tuned. You can't change much about an EV. They will all be pretty much the same.

We do need to move beyond fossil fuels and polluting hydrocarbons (renewable ethanol). But it will be sad to see motorsport fall into an obscure little hobby that will never recapture its old glory.

That is probably the case.

I was hoping for hydrogen cars because they can be refueled quicker than recharged.

Toyota has also invested heavily in motorsport (most Japanese brands do), and EV cars will kill motorsport. For now, GR can continue to push forward with hybrid power plants in motorsport, but that will come to an end soon.