I think the early 90's is where most people go back to when they take a nostalgic look at F1 and how much more exciting it was but if analyse things it perhaps is slightly rosed coloured specs on how things were then.
Ayrton Senna won both 90/91 in McLaren (Honda) not coincedently Honda stopped supplying engines to Mclaren in 1992 and the great Ayrton Senna only managed 3 wins in the year and a further five in a Ford powered McClaren.
This changed things dramatically with Nigel Mansell taking the 1992 , Alain Prost 9 both in Williams Reanult's,
Then in the start of the rise of the reign of the great Michael Shumacher who took titles in 1994 and 1995 in Benetton although it was a Ford engine in the first year and Renault in the second.
After 1995, Schumacher moved to
Ferrari along with
Ross Brawn,
Rory Byrne and 11 other key figures from his two championship winning seasons with Benetton.
Damon Hill and Jacques Villenuve to 96 and 97 respectively in Williams powered Reanult again followed by 98,99 which Hakkinen brought the titles to Mercedes for the first time since the 1950's.
Then of course we have the Shumacher dominance in the Ferrari in early 2000 until 2005
So whilst we might like to think racing was far more exciting and it probably was the actual results have a some what predictable pattern so maybe nostalgia plays a bigger part than we think or is it we now associate F1 as first lap race and all the incidents like pit drama's a distant memory.
Incidently in 2010 refuelling was taken out of F1 and Red Bull went on to win 4 consecutive championships is that a coincidence probably not but that combined with a single tyre manufacturer might have a lot to do with the high predicability.