... I'm having trouble understanding the need to focus on every bloody thing else except the simple and unadulterated speed of the event.
Its a race, or at least should be. Thats the issue. It requires cars to get quite close together, in order to overtake.
Yes, just watching them go around on their own is a specticle - thus I tend to go to the few practice cars they hold at Silverstone, esp as they are usually free

.
Would F1 work if it was just time trials? I think not

I never stay the day on the practice days, as, TBH, it does get boring watching them fly round. In any racing, close racing is what makes it exciting, no matter which motorsport you follow. Or IHMO anyway.
With Silverstone, I have seen over the years, the track move further from the stands, and you do lose the sensation of the speeds. Sadly. Bridge, one of the best spectator corners on any track - seeing a F1 at full chat through there makes the hairs stand up on your neck (moreso before they removed that section where you used to be able to sit) - has gone as deemed unsuitable for F1 due to the danger.

. People can no longer see F1 cars hurtling towards them, and then change direction with the flick of a wheel. I'm delighted I was able to see this, and saddened that others no longer can.