The problem is that a lot of the investment comes from the large automotive manufacturers. Despite the fans and media interest in the drivers' championship, what really counts within the sport is the constructors' championship (the two are strongly correlated, of course).
What makes the sport more interesting to the fans is not necessarily what motivates teams to participate. One could argue that there are many other formula and racing formats that get that balance between the car and driver, but it's not necessarily something that gets people tuning in. People watch F1 because it's supposed to be pinnacle of automotive engineering and racing. So if I'm a team boss of one of the top 3 teams, I'm not going to be interested in artificially handicapping the sport so that the smaller teams can get in the mix.
However, they've seen repeatedly that fans get bored when it's the same couple of teams who are wrangling for the podium and there's not much excitement per race. So teams at the top will begrudgingly let the regulations be altered to try and spice things up, but nothing too significant. Unfortunately it'll take a downturn in F1 rights income & viewership to make the teams think twice about how to fight this tension between the competitiveness vs status quo. But then the big teams will think, why am I investing hundreds of millions in F1 when I'm not winning when I can spend a fraction in DTM or Le Mans and start building up prestige from other events.
Take the Monaco race, the quintessential F1 race. Watch the pole position lap from the driver's viewpoint and it's the up there with the most amazing 70secs you've seen in sport. However, watch the full race and it's typically a dull procession. As a fan I'd be glad to see the back of it, but sport itself love it.
I think you captured this perfectly with your explanation. I did not take into account the teams. I was solely concentrating from a fans perspective in error or from being a fan myself. So this delicate balance won't really change much due to the reason you outlined. I'm curious in your opinion what do you think could change that will affect the sport in a positive manner (from a fan and business perspective)?
What makes the sport more interesting to the fans is not necessarily what motivates teams to participate. One could argue that there are many other formula and racing formats that get that balance between the car and driver, but it's not necessarily something that gets people tuning in. People watch F1 because it's supposed to be pinnacle of automotive engineering and racing. So if I'm a team boss of one of the top 3 teams, I'm not going to be interested in artificially handicapping the sport so that the smaller teams can get in the mix.
However, they've seen repeatedly that fans get bored when it's the same couple of teams who are wrangling for the podium and there's not much excitement per race. So teams at the top will begrudgingly let the regulations be altered to try and spice things up, but nothing too significant. Unfortunately it'll take a downturn in F1 rights income & viewership to make the teams think twice about how to fight this tension between the competitiveness vs status quo. But then the big teams will think, why am I investing hundreds of millions in F1 when I'm not winning when I can spend a fraction in DTM or Le Mans and start building up prestige from other events.
Take the Monaco race, the quintessential F1 race. Watch the pole position lap from the driver's viewpoint and it's the up there with the most amazing 70secs you've seen in sport. However, watch the full race and it's typically a dull procession. As a fan I'd be glad to see the back of it, but sport itself love it.