F1 is a victim of its own evolution. The cars have outgrown their circuits. With ever higher cornering speeds and reduced braking distances, there is hardly any room to overtake. Regardless of minor tweaks to the formula, these inherent speeds and lack of differential means that any changes will only make things slightly better at best, and not meaningfully better. There won’t be any major changes that have a meaningful and noticeably positive effect on the racing.
So. A radical idea. Tear up all the circuits. Build new larger, wider circuits designed to produce racing for today’s and tomorrow’s cars. 2 km straights, room for 6 cars wide. 20 km circuits. 10 laps a race. Massive cars with massive engines. Go large. It would make the F1 of today look pathetic.