Earlier quoted context omitted.
With the automobile market transitioning to EV, it is inevitable that F1 will be rebooted as an EV contest. Expect Honda to re-enter then, particularly if MotoGP goes EV first.
So, Formula E?
The big one is that all drivers drive the same chassis and battery, and with strict regulations regarding the engine. Pilots may as well all drive the same car. They also added Mario Kart style boosts. This is a game, mostly intended to provide entertainment and show off the pilot skills.
F1 was as much about constructors as it was about pilots, and in fact, being a pilot was as much about tuning and working with engineers as it was about driving. Technical advances driven by competition between constructors made the sport.
To replicate that with Formula E, constructors should be able to make everything from aerodynamics to the batteries. Have regulations that allows for technical breakthroughs to happen, with the minimum amount of limitations to ensure the competition still looks like car racing and to allow pilots to get old.