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It is the epitome of modern road racing, being the fastest cars out there.
FIA say the current engine formula is "the cutting edge of automotive technology development," though in the same sentence they say "while at the same time preserving the culture of innovation..." If innovation means aerodynamics within a strictly structured regime then they're right. Or perhaps they don't mean either one.
And no, electric is not the epitome of mechanical or automotive engineering, at least not in racing. Formula E has proven that with cars unable to go race distance and 'refueling' taking so long it's easier to replace the car than to refuel it.
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