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It's the tax thing that makes it interesting. Plus the fact he races makes it a bit less nuts, as otherwise I'd have thought a 330i would do the job for most... although I assume tax is based on the original RRP or something.
But yes otherwise the answer to the question; "why isn't there a 4 door M3" is, "because M5".
A 3 series Touring makes more sense to me, because... well it just does.
I know!
I guess the answer is quickly.
Tl;dr