I think in the case of a 240sx, which have McPherson struts up front with a lot of caster, a lot of camber up front helps keep the tires flat while countersteering to provide grip for adjusting the car or braking, which in a drift car is more important than cornering grip, especially considering that it is only used on turn in. Overdoing the camber will still introduce understeer though, but a driver can work around that with weight transfer, end result being a car that is more controllable during a drift. I.e. when it's doing most of it's work.
I imagine in the rear you would want to run less camber than you would for grip, since like you said there are less lateral forces being applied. This used to make perfect sense until people started running positive camber on the rear in Formula D. I have no freaking clue what that does and how that works, so my view on rear camber in drift cars is subject to change.
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