This is an idea for discussion:
You are allowed segment budgets: (figures are irrelevant, just as an example)
Engine development: e.g. 20 million
Aero: e.g. 6 million
Suspension: e.g. 15 million
Chassis: e.g. 20 million
Etc.
You get, for example, 20 million for developing an engine. ANY engine. You want a V12 naturally aspirated? Go ahead. Turbo V4? Sure. You want a gas turbine? Ok. Ion laser propulsion? Knock yourself out.
You spend the 20 million how you want.
Same with suspension: you get e.g. 15 million. You can do what you want, active suspension, passive, reactive, maglev, electro levitation, whatever.
Working within addressed specific safety constraints it would work. Obviously you don't want 60 foot flames coming off a car, so using predetermined safety conditions.
It would turn F1 from a simple global autorace event, into the LEADING platform for illustrating the current maximum potential of the INTELLECT (engineers) and BRAVERY (drivers) of the HUMAN RACE.
...and It would be marketable like nothing else on the planet.