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The Arcade Racer was obtainable in Season 25: "Pixel Arcade" by reaching level 5.
Supply is widely distributed — no single holder owns enough to register as a hoarder.
Arcade Racer is currently listed as rare which clearly just doesn't belong in rare and should be placed at Very Rare because its MU is lower than Bamboo Shooters (~129 MU) or Colors of Italy (~110 MU), while Arcade Racer has a MU of ~101. Arcade Racer is currently listed as rare and if you check some other rare listed spoilers, it is more fitting for it to be in Very Rare. Suggestion made by: @justice4zero