If you know the drama, the rivalries, the gossip and the news, then it provides much more context and enjoyment to the sport.
That way, when Nico Rosberg locks up his tyres and runs wide when trying to pass Lewis Hamilton in the second corner of the race, you know that's a big deal that's going to cause some controversy because they are heated rivals, instead of just "oh the green and grey car just tried to pass the other green and grey car but screwed up"..
When Daniel Ricciardo is half a second back and trying desperately to get past Fernando Alonso in the last 5 laps of the race to move from 7th to 6th place to get those extra 2 championship points, if you know where they are in the overall standings and that this particular battle on the track really matters, then even though they're not even close to finishing at the front, it's more exciting to watch - and it makes sense that the race director is showing this instead of the race leaders who are all racing multiple seconds apart from each other..
You need some kind of investment and engagement.. Even if you're not rooting for one specific team..
That said, you do kind of have to also accept that some races are dull (like today's Russian Grand Prix) and end up being a convoy of ground planes running perfect laps... That just kind of comes with the territory, and there's not much to do about it..
The next race will be (EDIT: at the Circuit of the Americas, not a street circuit) in Austin TX on the weekend of Nov 2nd, and should actually be more exciting, so maybe give that a watch..