Oversubscribed F1, budget caps, and Formula 2

I've been thinking about two seemingly completely unrelated events that have happened over the past week. The flood of entries, the bulk of which you would assume are legit if the budget cap thing happens, and the first race of Max's new pet project so-called "Formula 2" farce.

Wouldn't it make sense to merge the two concepts together - so that any new entries that miss out on an oversubscribed F1 could build their own chassis, perhaps to a lower budget cap like the original 40 mil and basically do battle in a kind of "second division" F1 to prepare them for any opportunity in F1 itself. Allow customer cars by all means but also allow those serious about entering F1 in the near future to get some experience as a constructor.

The most logical name for a kind of second-tier F1 would be, of course F2. Which has been relaunched as some sort of Super Formula Palmer Audi series where not only does everyone use the same car, but they all technically drive for the same team! At least GP2 has that aspect.

Old-school F2 was not just about up and coming drivers and teams, but constructors too. Minardi and Toleman (now Toro Rosso and Renault) were F2 constructors before F1.

Even engines - BMW and Honda's F1 entries in the early to mid 80s were basically 1.5 litre turbo derivatives of their 2 litre F2 4-cyl and V6 respectively.

I guess that half of the entry aren't serious enough and will not be bothered if they get a place in F1 or not.
The other half is made up by a few serious ones and a couple who would like to be in F1 given the opportunity to make money by running a very expensive billboard and would not accept to run in a 2nd hand F1 series.

I agree with Ioan. These teams have applied to F1 and only F1. This isn't football where off course everyone wants to play in the premier league (talking england here) but if they drop to the championship there is still big exposure (I believe the english second tier is the 5th most watch league worldwide). But F2, GP2 et all have next to zero exposure, so teams like superfund who have confirmed that their entry is motivated by marketing will have no interest in a lower catergory.

That said I do agree that F2 needs to be multi make and more importantly, multi teams. But it would be constructors like Mygale etc who would want to compete if it was opened up like that.

You both make a good point, I think that's one of the things football (and NASCAR) get right - lower tier series get good exposure.

I'm just thinking if F1 does end up being oversubscribed where they have to turn people away, and assuming that those who have their application turned down have elements in place to go ahead with it, I just think that would be a waste.

I know the open F2 that I and many others dream of would probably end up being mainly a mix of customer Dallaras, Mygales, Lolas etc, just like the old F2 with all the Marches and the open F3000 days. But in old F2 you had a minority of constructor-teams such as Ralt and AGS, and as I said Toleman and Minardi. I was thinking rejected F1 aspirants could play the roles of Ralt and Toleman etc.

Yes, I know it's all just a massive pipe dream and Mosley and Palmer's "vision" will win out, especially now they have the convenient excuse of the rubbish economy!