This is the hard truth. When 2021 BMW M4 as a direct competitor does 7:30 then 7:58 is slow. Although M4 was automatic but it was on stock tyres which should be 275/40 R18 and 285/35 R19.An 8:00 Nurburgring time is slow.
On the other hand I think something is off with that time. I'd really like to know what time the Mach 1 HP with 10R80 would have. On the other hand, it doesn't matter to me at all, the car is plenty powerful and fast for me. Nowadays anything is slower than EV car anyway, that's not what this all is about for me.