Nearly did that once in my friends 70 454 Corvette heading down the boulevard. All he did was shift from 3rd to 4th and punched it, on drive pavement, and that thing went completely sideways.
It even happens to Corvette Pace Cars.
I drive a 50th Anniversary Mustang GT - 435 Hp, 0-60 in 4.4. Stick shift, 6-speed. I’ve been driving decently hot cars on and off for 43 years.
The first week I had that Mustang, I scared myself by putting it in “Sport” mode, instead of “Normal”. I learned to drive it in Normal for about 6 weeks before I switched back to Sport.
I put it on Sport only in completely dry conditions, and I can still break those back tires loose just going in a straight line, without trying too hard. I’ve NEVER put it in “Track” mode... I cannot imagine that car with 700 Hp.