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The only real problem with today's engine regulations is the cost, according to FIA president Jean Todt.
In a joint interview with German broadcaster ZDF, however, Bernie Ecclestone and Todt's predecessor Max Mosley painted a very different picture.
There are rumours that a parallel bi-turbo V6 formula could soon arrive, and F1 supremo Ecclestone is even talking about reviving the old screaming V8s.
But Todt is totally unconvinced that the current regulations are broken.
"It is true that one of the teams (Mercedes) has done a better job with the new power units," he told Finnish journalists this week.
"But another manufacturer (Ferrari) is now quite close, and I believe the others will catch up as well. It is only a matter of time," the Finnish broadcaster MTV quoted Todt as saying during a visit to Helsinki.
"I think at the moment the main problem is the price of the engines for customer teams. It is too expensive," argues the Frenchman.
"I have asked the manufacturers to consider reducing the price, but they do not seem very interested in considering the matter," revealed Todt.
"But we need to come up with other solutions that work better."
Former F1 race winner Juan Pablo Montoya agrees with Todt that, eventually, manufacturers like Renault and Honda will catch up with their faster rivals.
"I think with a little time and patience, Honda will come back and do a good job," he told the German broadcaster RTL.
"You can't expect that they are going to be good straight away when the others have been there for years," Montoya added. "This is only their (Honda's) first year."
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C. Sainz jr
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Honda has basically never been successfull immediately after entry. Not in the 60s, not in the first turbo era, not in the 2000s, and definitely not now. It takes time, but they've always been able to bounce back and make their package competitive. From no points to 4th in the 60s, from no points with Spirit to winning several championships in the 80s, and from low places in the 90s NA-era (as Mugen) to 2nd at their NA-peak in 2004. Wouldnt surprise me if they could do something similar again.