Any motor sport that removes the skill of controlling the chassis/frame from the driver/rider is less exciting in the main. When you rely so much on aero to control the way the car handles you are on a road to ruin as you are when you add traction aids and clever suspension when you seek close or exciting racing. F1 is the top of the sport but it's far from the best form of the sport in my book, always the same in my years of watching it too really though it was better in the 70's and 80's. The thing is with a modern F1 car is it always takes your breath away when you see one on track in anger, always has and always will I guess but I agree that Moto GP is more exciting racing.
Goodwood Revival 2.5 years back brought back my passion for the sport which had be waining for a few years when it came to live events. Each and every race that weekend was exciting, with cars dicing through the pack, making a great noise, looking great and handing from the days of drift and wheel working. Added to that was a circuit from a different age, dangerous yes but what a place to spectate and I realised then that motor sport is epic when done well. I feel sorry for those who's sole experience of motor sport is touring cars or F1 at Silverstone. It's an utter crap place to watch the sport in the main as you are so far away and removed from the track it feels remote.
Get to the Goodwood Revival (not the hillclimb) and see how car racing can be every bit as close and as exciting as Moto GP.