You illustrate the issue perfectly. You are clearly someone that likes motorsport, you can watch it anywhere and endure things most people can and will not to do so.
It seems the newer F1 fans need something more, either a driver to love or hate, a team to love or hate, a national element. Racing is never enough.
hence it is immensely popular.
They may call themselves fans , but to me they are tiresome dilettantes with no real understanding of or interest in the wider sport. They watch a lot of telly, get into hissy fits on Twitter about Max's penalty or Lando's pitstop but rarely , if ever , stand in the fresh air and actually watch the sport . They are the people who don't care if a race is at Monza or Vietnam . and the sort who will witter on about the sport's brand values and similar guff . As for the corporate lot .....well , if somebody thinks blowing a grand is worthwhile for rubber chicken and a 2 minute speech from a driver then fine ,they can boast to their colleagues in HR what big shots they must be .
Thing is - racing is enough . If it isn't , you need another sport.