Having watched a significant amount of Formula 1 and having nothing but love for the sport, I can safely say there are plenty of things wrong with it. And one of the biggest issues is - Money.
Specifically, how flows into the sport, how it distributed, and how it influences the actions (or at least creates the perception that it does). There's plenty of good things that a significant inflow of resources has done to the evolution and development to the spectacle, however, there are plenty of downsides. From Lance and Lawrence Stroll(s) taking hold of their spot in the paddock to some teams being paid more than others not based on merit.
Therefore, I try to summarize in a few sentences what exactly is wrong with the sport... Let me know if I missed something.
Dion Lacho