fast = fun?
it kinda takes a simple mind to be that entertained that easily XD
the "game" or sport itself seems so simplistic that you may as well sit in the rotunda watching a giant one of these representing whats on track.

i wouldn't say its simplictic at all
the engines rev to 18k (used to be 20K in the v10 era)
pit stops never take more than 5 seconds for fuel + tires
drivers are in a open roosterpit and can face g-forces up to 5gs
the faster the cars go the better they can corner due to the way the downforce works
they don't stop because of the rain (unlike NASCAR)
http://www.youtube.com/watch?v=Yu34Kw490WsSide-point: I find it very disastrous and perplexing to use km/h and miles in the same sentence unless you're directly comparing them.
Actual-point: So the fact that it can exist is the sole-purpose for watching it happen over and over again? Are chemical plant workers also playing a sport?
no it exists so rich people and car manufacturers have a extra way to promote themselves/spend their money