A different perspective: you should be skilled enough to sense and predict these scenarios 5-10 seconds before they occur and it should happen without active effort. Avoidance beats having to deal with it.
@Evoex's post was pretty good with diving into how.
Also, many track junkies if put in that scenario wouldn't overreact if needing to react (likely due to lessons learned from too much throttle/brake/whatever and crashing) and it becomes a second instinct. You also learn how to pass/overtake safely.
Just my 2 cents because there's a lot of ignorance with regards to how much track riding (and sims to an extent) transfers to street, and it seems the general census is "it's near useless."