I know it seems that way on the surface, but the fact of the matter is that the driver skill set has changed significantly over time. I mean in the golden age of v10 the game was about going as fast as possible. Now it is a war of attrition. Save the tires, save the engines, save the fuel.
Every time the FIA changes the priorities of the sport we get a new sport. I can't say that I am a fan of the sound of the V6 era, but the last two seasons have had been good racing. I can't say that auto-telemetry era would be a return to the classic sport, but it would change the sport and provide a thrust forward in soon to be mass market tech. Which is one of the reasons that I like F1 it is a look at the "not too distant future."