If we go back a fair few years F1 was always seen as a rich man's extravagance. Good fun but very dangerous.
It always had a very tight, (and small) band of followers and very little air space. Mentioned occasionally in the 'news', until the 80s when the airwaves were occasionally graced with more highlights.
Even now I would suggest that it is an elitist sport - in these stricken times (yes, I know the World is supposed to be coming out of recession), peeps are careful where their money goes.
SKY didn't help, nor did all the endless tweaking of rules and regulations to overcome the misguided notion that whatever you do to 'enhance' the spectacle would increase the desire to spend. Joe Public still can't afford it - even from the comfort of their living room.
I have enjoyed this season so far, if only because it is the nearest thing to the racing of my youth (without the deaths). I would have enjoyed it even more if I could have watched it on the TV without forking out squillions for the privilege.
What BE really needs to understand is that merely because the teams can (possibly) afford it, the audience can't necessarily, whether it be on track or on the sofa.
Somehow he seems to have assumed that all who like F1 are minted!