Point taken, and agreed with, but F1 is a traditionally pretty bad example for this. They regularly, including during the Schumacher days, changed rules to try and make things closer.
> It’s supposed to be a racing competition not an engineering one.
Then why is all the prize money distributed based on the Constructors' championship, which is effectively which team does the best engineering? Indycar is the racing competition; F1 is car design competition that is judged by the racing ability of the cars, drivers and teams combined.
F1 definitely does NOT keep things balanced. Though they do try, but they have to balanced engagement from fans, well-funded teams, and teams with less financial backing.