It was so fierce that Senna decided to hit his rival in the first corner of a race, taking out both, solidifying Senna's championship.
It was exciting too. Since drivers need to take risks with 750+ HP beasts, Senna battling Schumacher, Villneuve battling Coulthard was fun.
Pit-stop tactics was the cherry on top, not the secret sauce. Engines and drive trains were not regulated. After some deaths, non rational gains (Mercedes 7G-tronic was so quick when paired with their engine. It just accelerated uninterrupted so it got banned. Renault's Open Injection engine was so powerful so it got banned a year later) and hey, it's getting too expensive cries (and Ferrari-Gate), it lost its luster for the audience.
Now the war is behind the scenes. Homologated parts, limited testing and simulation (they have yearly CPU instruction limits!) and some good people rule the sport.
It's no longer about the drivers. It's about the car you drive and the people behind it. If you have the season's best engine and Adrian Newey in your car design team, you can just win.
So it feels like the movie "Death Race" if you have a good car, you have advantage and if it doesn't break down, you win. That's it.
I left watching it the day Ferrari admitted that they're basically financed by FIA (by getting 23% more advertisement revenue cut at the end, every year).
Some more points: Standardized ECU just killed a lot of excitement by limiting remote engine tuning. Ferrari's domination slowly eroded excitement for most people. Drivers being immature and getting away with it eroded its prestige for me. I still miss Jaguar's green/gold cars. Boy, they were handsome.
So its golden era is long gone. No wonder Honda is leaving.