I don't like the extra hour and ten minutes wait for the race but it's not the end of the world. They're talking about shorter races as younger fans don't like the longer races, they get bored and lose interest. They're also talking about a lot more races too, and protentially getting rid of FP3 on the Saturday morning or so I read.
For me, they should sort out the quality of the racing we do have before they start adding more races in. Quality rather than quantity! As for shorter races, what is the point of hauling all that stuff and all those people round the world for less racing? It makes no sense to me.