I thought by the tire debacle you meant the one-set-per-race rule, which not only caused the mess in F1, but also led to a number of spectacular incidents this year, including Raikkonnen's aforementioned suspension collapse. Indy was symptomatic of a whole range of things, such as the obstinacy of both F1 management and the teams, the stupidity of the single-set-of-tires rule, and the dominance of the entire sport by egos with no real interest in the fanbase.
On the whole, though, I think that the FIA have ruined F1 by trying to slow the cars down through making them more dangerous at high speed. It's a stupid way of achieving what may not be a particularly smart goal; part of the rush of watching a live F1 race is the raw power of the cars. If the FIA really wanted to slow the cars down, they could dictate smaller engines and leave it at that - practically speaking, there's only so much power you can get out per cubic inch, and it would leave the cars free to return to slick tires which would in turn place less reliance on aerodynamic grip which would ultimately (one hopes, anyway) lead to actual racing on the track, rather than in the pit stops.
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On the whole, though, I think that the FIA have ruined F1 by trying to slow the cars down through making them more dangerous at high speed. It's a stupid way of achieving what may not be a particularly smart goal; part of the rush of watching a live F1 race is the raw power of the cars. If the FIA really wanted to slow the cars down, they could dictate smaller engines and leave it at that - practically speaking, there's only so much power you can get out per cubic inch, and it would leave the cars free to return to slick tires which would in turn place less reliance on aerodynamic grip which would ultimately (one hopes, anyway) lead to actual racing on the track, rather than in the pit stops.