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The trouble is, if you tear down existing F1 to rebuild it, it will never again have its previous prominence as, for lack of a better term, an entertainment property, because that field is just so much more crowded with options vying for people's limited time and attentions than was the case in 1950, or even in 1980.
I can agree to some amount of pulling back power from the manufacturers; I'm not exactly sure what that would look like, but in principle, I can get behind that.
I haven't yet been to Austin; we'd looked at going to one of the WEC races a few years ago, but by the weather forecast, it looked like the options were either to get boiled alive or drowned. So putting that one aside for now, the closest major road course is Road America, 750-800 miles away. You mentioned an F1 without manufacturers being much, much smaller; as a matter of personal valuation, it's hard to justify that travel distance for anything other than a major series like IndyCar, IMSA, you get the idea. (Heck, I'm not sure that that much smaller F1 would even have a US race.) Anyway, I hope that gives a better picture of where I'm sitting.
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