All rotors crack under track conditions eventually, especially if there is insufficient cooling to rotor. You have to look for the tell tale signs around the edge of the rotors to see the beginnings of cracks starting. I've seen non-slotted rotors crack all the way through where someone ignored those signs. The issue with cross-drilled is that the crack tends to play "connect the dots" and can turn from a minor check to a major crack fairly quickly, the stock Corvette Z06 has this issue.
You are correct that many race teams use them for the added bite, but they are also running massive brake ducts so they can maintain temperatures in their target range, and like you said replace/rebuild on a regular basis.
I wouldn't run them myself, they just don't hold up as long at the track.
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