My issue with locked down stuff is simple, you make a mistake and you are paying the whole season.
It's an expensive sport, share the earnings more evenly. The teams with the most money is still most likely to win, earn more money and then win again. It's a very tough sport to get into.
Fair point, however the risk of making a mistake is equal across all teams and isn't really a product of having more money so much as making a smart judgement call. Of course that could help the smaller teams as much as hinder them, even the big guys make mistakes in judgement and strategy.
The second point about the money making it hard for teams to get into the sport is also fair, although history proves that money, even in F1 is not always a guarantee of success, look at the amounts Toyota spent with basically no return in results over many years. I would however like to see more of the money seeing its way to the smaller teams as a proportion of the total revenue as compared to the big teams.
My biggest bugbear is having 3rd or even 2nd tier teams sometimes fielding drivers that dont represent the best talent purely because they bring big money with them. You can't help but feel some of the most talented drivers may not ever get the chance to drive in F1 unless they can swing a huge entry fee..