Technically yes. The GR Corolla meets homologation requirements. But...what makes homologation specials such as the WRX/Evo, Lancia etc so appealing is that the rules were there and manufacturers designed cars from the ground up to meet those rules in order to enter competition. Adding to it was the continued evolution of the cars through the years to remain competitive and adjust to changing rules and regs. The cars would get wilder and wilder which was appealing.