Wow...just WOW. Making stuff up as we go along?
The rear wing reduces lift, yes. It can help on a FWD, RWD, or AWD car at speed. That exact speed depends greatly on the vehicle, and the wing, but I'd have to estimate it will start making a very slight difference at ~80mph, and increase in effectiveness logarithmically with speed. I imagine at 120 that the wing is QUITE effective in reducing lift, and it may be actually producing downforce by that speed. I can't tell, but it seems to stabilize the ass of the car pretty well.
If you want to know what such little differences can do to a car at speeds like this, simply look at the Audi TT. At 120+, the rear of the car would get squirrelly and they had multiple wrecks on the Autobahn due to the sleek wingless design. The TT soon had a lift-up spoiler similar to Porsche's design, and the wrecks caused by rear-lift ceased.