As a motor sports fan, I'll find a way to watch the series I want to watch, so accessibility is more of an issue for casual viewers.
The time/reason I lost most interest in F1 was during the Schumacher/Ferrari era, because:
1) I didn't care for him as a driver, other than having respect for his ability (with Byrne and Brawn) to drag Ferrari as a team to the top, which is a rare skill that most drivers don't possess. He was able to do that, and at Ferrari, no less.
2) No interest in watching the one of the quickest, if not the quickest, driver on the grid, with the fastest car, face few challenges, including from his teammate, the one best positioned to put up a fight, by team decree. Dominance, haves/have nots, and yes, team orders, are intrinsic traits of F1, but that was a degree which was no longer entertaining, left little to chance, and not on balance with the rest of the "circus" elements that are also intrinsic to the sport. It's one thing if Checo can't challenge Max, but it would be an entirely different thing if he weren't allowed to, explicity or not.
3) Just plain fatigue with the "circus." Many do people enjoy that stuff, and while the battlegrounds have now shifted away from places like r.a.s.f1 to the comment sections on racing news sites, enough was enough. Column inches must be filled, even electronic ones, and the even just seeing the headlines of the same pablum, repeated on every site can be off putting.
That personal interest in F1 has never returned to the same level.
Lots of people may like the product, and it might be more popular than ever.
But it is ok to look away, and seek other forms of amusement, as a personal choice.