Can a vehicle have too much horsepower?

IMO the majority of people who think they need more power really don't. 500 wheel HP in a 3500 lb. street car is way more than enough. I've got barely 400 wheel HP in my Duster and even then the only place I can go WOT all the way to redline (6000 RPM) is a highway on-ramp due to my 2.94 gears. And it gets up to speed in a hurry, in normal driving I'm barely pressing on the gas pedal. My plan is lots more suspension upgrades because I feel like I can't fully use the power I already have.

I saw a douchebag in a Hellcat Charger on my way home from work the other day just mashing it every chance he got and weaving in between lanes like he thought he was on a NASCAR track. Maybe that's fun to him but he's endangering other drivers and overall just pissing off everyone else on the road. I don't keep up with the local car scene made up of people my age because they have a retarded perception of power and performance. The internet made everyone think 1000+ HP is normal and if you have less than 500 your car ain't worth ****. They're also obsessed with imports from the 1990s-early 2000s and are too naive to realize it's all nostalgia. The original Toyota Supra and Mazda RX-7 were great cars but now it's like the muscle car craze, they're going for stupid money and everyone still lusts after them. There's also a weird thing that's fairly popular now where people swap huge high-HP engines into POS old throw-away cars (or home-fab a giant ghetto turbo setup), I don't get it I guess it's supposed to be funny? Won't be very funny when you die the first time you nail the gas. Then again they usually blow up almost instantly because they have no idea what they're doing.

I agree with Rumble, a car with too much power means either the suspension/chassis can't handle it or the driver doesn't know how to control it.