As usual I think I'm running counter to prevailing opinion but to me what's wrong with F1 is trying to make it "exciting" to the fans by all kinds of artificial stimuli. That, and playing to the mini-teams by limiting the others in terms of costs.
I'd rather see it as in days of yore, when it was considered a sport rather than an "entertainment". Wide open, do as you like (within reasonable constraints); spend what you like; test/develop as you like, when you like; pit activity at teams' discretion. And may the best car/driver win.
I've followed F1 since the 50's but I only watched maybe a quarter of the races last year. I likely would have watched fewer or none this year, CV notwithstanding.
Now they want to use it as a vehicle (sorry) on the current social-change bandwagon.