Why would you want to have black smoke? All it is is unburnt fuel and lost power.
It isn't that cut and dry.
Increasing fuel increases egts, increasing egts means more energy in the exhaust and this is what actually turns the turbine.
For spool up purposes and therefore getting the best overall area under the curve.. aka more power, there will usually be more smoke on the car making more power. That isn't lost power clearly.
Picture a pulling truck loaded up on the line and the black smoke they are putting out, then think about it at the end of the run and how much less it is putting out.
There is a time and a place for smoke. One could simply just break that down to street vs off road if you want to make it about the appearance of the diesel community and the environment. For the street one could then limit it to say spool, still there is no need to roll coal, but the car with a little smoke is probably faster.
Perfect example is the Cummins in my Jeep. It is 100% mechanical, I can run it without an alternator or battery hooked up, it is that basic. Fuel is controlled by the pedal which is basic fuel request and then boost as well as rpm which varies it by load. There are a few screws and knobs I can turn to change how it comes on. What is the quickest and easiest way to tune that engine? Your rear view mirror! Turn the knob until you see smoke, then go back a little but not enough to make the smoke go away.