The payout for the F1 events was just around $200,000 per event. I thought they were extremely fun, but I was curious as well.
It's CERTAINLY not worth the $10 million entry fee, but I traded for my F10, so for me it was pure profit. If PD keeps these events coming, which I would imagine they'll have to, it might be worth it?
You'll likely get one of the F1 cars from a lvl 24 ticket as well, which then of course... would be worth it.