Eh, BMW used to make 1100hp out of a stock block turbo four cylinder (look up the infamous "Blackjack" BMW-Brabham) but they still had to contend with 800hp N/A Ferrari flat-twelves eating them up.
Formula One is Formula One is Formula One. Yes, in the turbo era tiny little engines were making 900 odd horsepower. Now in the 3.0L V10 era we're still making 900 odd horsepower.
And I bet that in a few years the 2.4L V8's will make 900 odd horsepower once a few hundred million dollars have been poured into development.
Honestly, all I wish they'd change about F1 is these three things.
#1 - Wide Tracks. C'mon, the narrow tracks on these cars look goofy with the longer noses and wheelbases.
#2 - Slicks. You want to make tires cost less AND last longer, give them back the slicks, not to mention the increased grip will give the drivers more wiggle room to pass with.
#3 - Chicanes. Get rid of'em unless they were there before Senna's death. That means flat out into Parabolica. Flat out around San Marino. And, as an addendum, PUT THE STRAIGHTAWAYS BACK ON HOCKENHEIM!