Reading this made me think "There's not a single thing left that connects modern F1 with the gold years, its been completely wrecked"
And then I thought "That means there's room for a new series that resurrects the spirit of the 60s and 70s, wouldn't that be awesome"
There is an obvious connection between the 1960s and 1970s and present-day F1: the best drivers in the fastest cars, designed by the best engineers. Which is what F1 is and has been all about.
"There is room for a new series that resurrects the spirit of the 1960s and 1970s": No, there isn't.
To start with, safety is a must nowadays. Neither the sport promoters, nor the sponsors, nor the broadcasters are interested in a sport with deaths or even seriously injured drivers. So, the old "classical" tracks like the old Nürburgring, the old Spa, Rouen-les-Essarts and many others, which were an integral part of the F1 experience of yesteryears, could not be used. Same goes for many of current car regulations, which are dictated by safety and for many rules, like safety cars or wet race conditions.
And don't even think about going back to non-hybrid engines: there wouldn't be one dollar/euro/pound/yen for non environment-friendly engines and you can't change that.
Also, if you want a world coverage of an event, you have to involve sponsors and all the corporate stuff which goes with them.
So, all in all, I'm afraid that any new alternative F1 series would be extremely similar to what we have now (which, contrary to what many say, I do not think is that bad).
What you can't change is that we are living in 2023, not 1970. Formula 1, just like everything else, has to adapt to a changing world, not the other way round.