Let's gooo🎉🎉

That looked like awesome fun

Rev limit is indeed a limit of speed. The wheels are connected to the transmission. If you are at max rpm, I.e. hitting the limiter in top gear the wheels are spinning at there maximum rate. The drag does not matter in this context. Drag often makes it harder for a car to achieve its max rpm, but in this case you are hitting the rev limit and so you are at the cars absolute max speed. Take drag away, wheels can’t spin any faster.