There is a lot of fuss at the moment about the F1 engine rules and whether they should be changed. The current structure means that changing rules is very difficult and the whole business tends to get bogged down. This is something that the FIA allowed to happen because it wanted money and a share in the business. The whole governance question is a big mess as a result. Perhaps that was done deliberately for some political reason, we can only guess.
The rules we now have are brilliant and they truly challenge the engineers to develop more efficiency. These engines were what the manufacturers wanted so those who blame the FIA are simply ill-informed or they have a hidden agenda. One of the things that the rules were supposed to do was to bring in more manufacturers. That has happened with Honda but there are no others visible at the moment. In an effort to keep costs down there is a system of tokens relating to engine development. Each major element of the power unit has been given a value in tokens and manufacturers can choose which elements they can change, up to the limit of the tokens available. This limit reduces over time. The aim of the system was to keep costs down, while still allowing manufacturers to develop new technology. Given the car companies want hybrid technology I think that they should be allowed to spend as much as they like, so long as the price paid by customer F1 teams does not increase. Engine costs today in F1 are ruinous and there is an argument that the manufacturers should be regulated in what they can charge. If they want the technology they will pay whatever it takes because the ultimate prize is to sell more cars and that brings in vast sums of money. Teams need cost caps and a limit on the price of the engine. If they had these then the current grid would be safe, although there is still a lot of debt to clear.