Or a race with no pit stops. Tire degradation is largely artificial and designed to FIA requirements. They could make tires that lasted an entire race with minimal reduction in grip if they wanted to, but that would remove a lot of strategy.
This exists; they are called sprint races. Sprint races are generally a stepping stone to the bigger leagues because it doesn't require the same type of manpower and coordination to be competitive. A lot of spec series (like the MX-5 series that runs with IMSA sometimes) tend to be this way to lower the barrier of entry.
The MX-5 Cup series is better than F1 anyway :D
F1 has gotten boring lately. That ought to spice it up!