There are lots of other forms of motorsport that ARE entertaining. Watch and support them.
I've pretty much given up on all forms of pavement racing outside of MotoGP and Australian Super Car. Oh the 12 and 24 hour endurance racing is good too - especially LeMans of course.
But for sheer entertainment I prefer dirt track stock car racing. The little local tracks that have a bunch of people (men and women typically, although fewer women) that work for a living also funding their own programs out of pocket. They are the chief engineer, car owner, driver, janitor...If they are lucky their spouse is the pit crew. I am the flagman at a local track - so biased obviously.
Alternatively, if you like off road racing the new combined Lucas Off Road Racing series is pretty good stuff. They also have regional racing for amateurs and up and coming drivers. I race a regional series so I'm partial. ;)
Robby Gordon's SST series is fantastic to watch. You have to hustle those trucks around.
See also WRC.
See also Dakar.