funny, blown exhausts represented technological "progress" along with other elements which made the cars multiple seconds faster last year, yet i see few complaints about those being banned and the cars being much slower. Doesn't take a genius to figure out why; because when people say "progress" what they actually seem to mean is "the result is more like the one i want"
You can't keep making the cars faster and faster, it's not sustainable. Tracks would need larger and larger run off areas (which is both expensive/impossible and ruins the experience for fans), and collisions between cars become more dangerous. F1 only needs to be the fastest racing series in the world, and the most technologically advanced, there's no point pushing for unnecessary speed - that can be left to dragsters.
The problem F1 has (for me) is that no large manufacturers want to invest in an aero-dominated sport (because the research costs are wasted), but when they made engines a bigger factor, they "froze development" to keep costs down. If the manufacturers want an engine-dominated series, I don't see why there's a need to freeze development. So long as the FIA prevent the constructors passing huge R&D costs onto customer teams (by capping cost of an engine contract), I don't see why it's not possible.
If I was in charge then:
-Allow greater engine development during the season (with appropriate safeguards in place)
-Increase proportion of grip coming from mechanical not aerodynamic devices. If tyres are larger and therefore providing more grip, individual aero variations will make less of an impact. This should hopefully also make overtaking easier
-Redistribute prize money so that every team receives a healthy amount, with a smaller performance related bonus
-Scrap the ludicrous entry fee for new teams, that £20m or so must put some outfits off.
-Encourage greater technical link-up between established and "new" teams, so that it's easier for new teams to at least get to the back of the pack.
-As others have said, proper wet tyres. If an increased ride height is required to help this, so be it.
-Definitely agree with minimum driver+seat weight