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You might wear out the outside of the tire sooner without track alignment. Also, track alignment enhances the handling a little. Can you do without it? Yes. I did on my first track day. My second track day was with track alignment.
I will not be going to street alignment since I am not trying to save the tire to last 20,000 miles. It will wear out sooner after couple of track days so what's the point of keep switching back and forth.