I love F1 but I think it has problems and Bernie's time at the helm is drawing to a close.
The manufacturers effectively bullied the sport into these new engines and I think some of the problems stem from that. They were supposed to be trying to cut costs (removing in season testing for example) but then came up with these hugely technologically complex engines that cost an absolute fortune to develop. They then restricted development so that if you were behind the game at the start of the year with your power you were pretty much for the whole season long. They (the engines) seem to have pleased no one. They sound terrible, the cars are slow, they have widened the gap in the field, they have narrowed the competition and the grid is slowly reducing. The spectators (who pay the extortionate entry prices) don't like them either. Listen to a GP2 car to remind yourself what a race car should sound like.
There are always going to eras in this sport where one team is hugely dominant - McLaren with Senna & Prost, Williams in Mansell's time, Ferrari with Schumacher, Red Bull with Vettel and now Mercedes with Hamilton. The only way to stop that is to put a power limit on every engine and then it will become much more about chassis and aerodynamic efficiency and driver skills.