I guess what I have a problem with is that, having the greatest potential for making races more entertaining, this "era" of F1 is not making use of it simply because of the inability or unwillingness of F1 stakeholders to agree on things.
-The cars are more reliable than ever. Great! That means the probability for abandonments is lower, which means that the probability of racing should be higher. But what do they do? They force the issue and penalize for engine and gear box failures, artificially punishing the driver. Or they introduce fuel limits or bad tyres that don't allow the cars to push (i.e., "use" that reliability for racing).
-They know more precisely than ever what needs to be done to reduce turbulence behind the cars to improve the probability of overtaking. But what do they do? They don't enforce rules strictly enough, don't follow through on initiatives, or, even worse, find band-aid solutions like DRS and bad tyres.
-They have the best technology and openness to monitor communication and car functioning and the drivers have supposedly never been more empowered, yet they are not able to ban TOs.
And so on. It's maybe not that past F1 eras were better, but that the present one has failed to reach its full potential.