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Well, accounting that F1 is so commercially lucrative that one the features of it is gone (fluctuation of performance from year to year, self regulation and "natural attrition" of competitors moving or leaving), and these corporations acting as race teams are taking the mickey out of the series (Ferrari and MB in particular), the only way I can see to satisfy most factors is for F1 to expand to 2 or 3 divisions. And have promotion and relegation like European football leagues.
It's an overinflated economy. It's too hard to cherry pick specific features of the past and think its suitable now.
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