Qualifying, especially for fastest lap, can be just as much an event as the race is, except it's more boring, especially for those watching who are mainly waiting to have a good time racing.
OTOH, some people can't drive, no matter how fast their car is, so it's a way of throwing them a bone and getting their participation.
Time permitting, it might be a fun thing to do, but usually it's just a time waster, especially for best time, mainly because, as has been noted, it doesn't represent driving ability, so it really shouldn't be used for lane choice...just for the glory.
Laps and sections does represent driver ability, but again, it's just as much a time waster as fastest lap and equally useless, especially with a small number of entries.
8 or less racers, just don't bother, let people pick lanes as they sign up/pass tech or do a random lane choice.
With larger numbers of entries, random sorting into consies and just seeing what happens is probably the fairest way to do it...sink or swim. 