I think it is hard to judge after one race to be honest.
The Bahrain GP is notoriously crap, and a terrible place to start a season. They really shouldn't be racing there at all.
If the Australian GP is a bore, then we have problems. But I expect a much more exciting race.
Bahrain in 2004-2009 were all poor races, so by comparison - we are pretty much the same. Everyone just expected some sort of magicly fantastic race, but this will never happen until they reduce some downforce and decrease the braking potential of the cars.
I'm glad Bahrian is out of the way, and now the season can start in Melbourne as it should have done in the first place!