The problem (in my eyes) is, that they are holding back the engineers with all the regulations. If you watch F1 history for example around 1978 (Tyrrell P34), you had some really radical and new concepts. Nowadays, engineers spent years and millions in a wind tunnel with thinking where to put new tiny air flaps, cause they aren't allowed to change anything relevant on the engine or the car frame at all. With this, you have cars and teams fighting over milliseconds and not about positions...
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