That concrete wall is meant as a figure of speech. To prove my point is that 'fear', or as many like to call it; 'having bigger balls than another' should be playing a bigger role in today's F1 than it does now.
At the moment when 'business' as you stated, kills those important aspects of a certain sport, and in F1's case it changes the whole circus.. the sport will eventually be ruined. So I think we are pretty close to the situation of what is going on in today's F1. Although imo this is one small aspect of the 100's causing TV rates to drop that much.
True, older tracks ofter provide more spectacle. But what trend do we see going on? At least one going in the wrong direction. Say goodbye to Monza temple of speed. I believe 'business' plays a big role here as well . although I think the fight was mainly caused this time by Alonso's fighting spirit, when Vettel came by, he was gone immediately. Cars and regulations are a big cause of the lack of fights these days imo.
When I would come to power, I'd say a fairly qiuck farewell to all Thilke tracks and 'Hi again' to Imola, nordschleife and all the others we have to miss today.