F1 is about racing that is exciting: Overtaking and seeing how the different attributes of drivers and cars play out.
For many years this has not been the case, except for the odd occasion, which is inconsistent in analysis.
As speeds and certain aspects of engineering and critically the regulations have developed the ability to be able to differentiate the better combinations has diminished.
This is shown by the lap time spread reducing. Generally, as that happens racing gets duller.
When regulations even up the engineering to a ridiculous point combined with overly sticky tyres (that allow slow drivers and slow cars to corner relatively quickly) and extremely finicky aero and then very high speeds (as a factor, not a criticism) it produces dull racing that can only be broken by artificial means such as pit stops and the associated strategy.
Apart from F1, if you look at NASCAR that are regulated even more, it produces a pack of high speed equals that only a butterfly flapping its wings in the amazon can provide a change of winners.
Certain aspects of NASCAR have some helpful characteristics though: their focus on the driver as the main point of interest is very much a better way.
Most posts here have missed the point:
"FUNDAMENTAL ELEMENTS of that WITH today's safety features and engineering"
By combining the ELEMENTS of what made racing exciting with with the latest engineering racing can be exciting again.
For example, cornering speeds, if the majority can manage to set up the car somewhat right and use sticky tyres the cornering speed is very very similar.
when it comes down to expensive, finicky set up requirements to provide a .001 of a second difference there is something wrong.
This is shown in every GP, where is the big opportunity to pass when even a "slow" car can keep the foot flat and rely on his aero and sticky tyres to go at the maximum that physics allows.
We have to find regulations that take us back to an area of car performance that allows differences to be the excitement.
I would like to see constructive contribution to how that could be achieved.
That would be a worthwhile use of everyone's knowledge and efforts.
For instance, how relative is technology transfer? to me, it would be stupid not to and there have been extraordinary advances that we have all benefited from, these last two years very much so.
But with the detrimental affect on racing excitement where does today's degree of aero stand? Additionally it is an area of enormous cost.
Curtailing that to a much more basic influence of overall performance would be worthwhile trying.