Formula 1, explained for rookies

In my thinking. F1 is a gimmick to sell more cars and create a brand reputation. However, the marketing here can be of two different types.

Firstly, what Ferrari and Mercedes do, is to prove their cars are THE BEST. and hence, selling more cars
Secondly, Another way can be is, to create a perception. This is applicable to brands like Red Bull or Alphatauri. Who simply want to be relevant. This is one marketing strategy that Rolex uses from time to time. for instance, Rolex gave the first climbers of Mt. Everest a Rolex watch to wear on their expedition to the summit back in 53.

The technology part seems as Cleo said a push to reach closer to the Carnot Cycle efficiency. Which will allow us to then reduce consumption and increase performance.