Sure it is, a lot of money that has been invested in F1 tracks over the last decade has been a complete waste.
Four brand new race tracks in Turkey, Valencia, India and Korea has all been abandoned by F1 because they never had the local fanbase to support the escalating race fee that FOM/CVC imposes on them.
It was clear from the day all those races were announced that all those race tracks would fail in that way but they went ahead anyway because they were foolish enough to pay the fees and believe Bernie's lies.
And at the same time we can't have a races in France or Germany which have massive motorsport fanbases and huge connections to the teams and manufacturers?
Last I checked, Turkey and Spain are both in Europe. If they were willing to front up the money, then I see no problem with hosting the race their. That the organizers were unable to promote their circuits and generate an audience, is a problem that lies on their shoulders. Sure, F1 does charge a huge price for hosting races, and that is something that should be resolved; however, that is not the point I was arguing against.
Take Turkey for example. The circuit was actually quite good, and the races were entertaining. In terms of TV viewing, I don't see any problem with the track itself. Valencia, on the other hand, was a boring track, and I'm glad the race there is gone.
In the same way, Germany had every opportunity to host the race, but were unable to do so. On the face of it, Germans the local populace just seems disinterested in the scene at the moment. Both the Nurburgring and Hockenheim are brilliant tracks though. On the other hand, there was a reason why The French Grand Prix was called Magny Bore...
Some tracks are interesting, some tracks are boring. China, Bahrain, Abu Dhabi, Malaysia, are all able to sustain their races (government intervention or not). So I don't see how we can justify that races being held in far flung regions are to blame for F1's decline. The problem lies elsewhere.
I'm a huge F1 fan, but I just don't see any reason to go watch a race live these days, because... frankly the cars are not awe inspiringly spectacular to me at the moment. It's the nature of the current regulations. I have a circuit just 5 hours drive away from me, and I have no inclination to go with the way things stand at the moment. I'll stick to TV.