You can still have fun racing with a pretty mediocre FTP
My FTP is ~255-260 and I weigh about 73 kg (~3.5 W/kg). Last weekend I raced a small 44 mile gravel grinder. It was just a random Fondo / race in Ohio. I tried to hold onto the front group but once they got on the gas, I had to push way above my limits (bursts of 600-1000W) to try to hold on so I just let them go. I ended up in 2nd chase group with a few other guys. We were in sight of chase group 1 (which my buddy was in) for most of the race. We never did catch them. At the end of the race it came down to a sprint finish for my group and that was the first time I have ever had to sprint against other guys. Usually I'm just rolling across the line solo. I managed to out sprint the guys in my group and take 16th / 190.
The point of the post though is that I've felt like I needed a 300W FTP to be one of "The Fast Guys", but I thought to myself yesterday that even if I never get there, I can still have a lot of fun at these smaller less competitive events. I'm going to keep working at it, but I'm pretty happy with "just" a 250W FTP. I feel fast, even if I'm not as fast as these dudes with team kit, golden aero chain rings and massive quads.