The cost of saving money

Looking towards F1 next year, I wonder why, with the massive costs of F1 already, more money should be spent developing new power units? There is nothing new about V8s. and reducing power never reduces speed for long. In fact an entirely free formula would encourage research and development. Cost could perhaps be conserved by simplifying electronics and pits-to-drivers communication.

But would drivers on the way to their banks agree to change gear by lever, use clutches and rely on pit signals? Competition between tyre companies may or may not benefit you and me: but if not, a single make of tyre for all the cars would be no setback. To ban tyre changes during races seems to me to be inviting accidents and to serve no real purpose. But as a layman, for what do my opinions count?