I would not worry so much, F1 will always be F1. That is how it works. Again. Enginners develop, lawyers cuts and win money, it´s like a sinusoidal, it goes up and down, the history repeats itself. A model would be like this:
A- teams develops, spends, improve and develops again
B- teams overexagerate development and spends more and more
C- costs go nuts
D- FIA bans overexagerated developments
It happened in 80s with turbos, in 90s with active suspension / abs and now with aero, with an amplification in engine development due to car manufacturers extra money injection.
Here is a graphic comparing Italian GP fast laps from 1985-2007. (I think that is the only comparable GP, with times always arround 1h16m-19m and track layout basically the same)
1987 4.0 bar for turbo engines, fuel restriction to 150 litres, 3500 cc atmospheric allowed with no fuel restriction
1988 Turbo boost restricted to 2.5 bar (250 kPa).
1989–1994 3500 cc atmospheric only.
1994 active/reactive suspension systems banned; Electronic driver aids (traction control, launch control) banned.
1995–1998 3000 cc atmospheric engines only.
1998 Grooved tyres introduced (3 grooves front, 4 grooves rear). Track (width) of cars narrowed from 2 m to 1.8 m.
1999 Front tyre grooves increased from 3 grooves to 4 grooves.
2001 Front wing raised to be minimum of 15 cm(?) from ground. (29th April, Spanish Grand Prix): Launch and Traction control allowed again.
2002 Two-way telemetry (which allows the pit crew to change the configuration of the car during the race) introduced.
2003 Two-way telemetry banned.
2004 One-engine-per-weekend rule introduced.
2005 One engine must last two race weekends. Front wing raised 50mm, rear wing brought forward and reduced in size.
2006 Engines reduced to 2.4 l capacity, 8
2007 Engines are homologated - development is not permitted since the end of the 2006 season. 19,000 rpm rev limit.
"You need great passion, because everything you do with great pleasure, you do well." -Juan Manuel Fangio
"I have no idols. I admire work, dedication and competence." -Ayrton Senna