Nobody watches F1 solely for the qualifying. After all, why would you? The real racing is on Sunday, when overtakes get completed, and side-by-side racing takes place.
Yet, in some sectors of the automotive world, this sort of 'motorsport' (in which the results of a race are decided by lap time) is gaining popularity. It's called time attack, and, I'm sorry, but it's utterly pointless.
Motorsport is wheel-banging, exciting drama in a pack of uber-fast race cars competing against each other, and it takes more than lap times to win. In real racing, you need to have expert race craft, trust in other drivers, and good overtaking skills, but in time attack, you need a decked out civic with a big wing, grippy tires, and that's just about it. No real racing, just clipping apex after apex, and no on-track competition. And, that's just where the issue lies: no on-track competition
See, battling in cars should be done on tarmac, with bumping sidepods and centimeters between cars because that's what's exciting! It shouldn't take place on a time sheet, or in sector three, where Falken Tire's GTR gained two tenths on the #3 Mitsubishi Evo.
In time attack, there are no Dijon '79 moments, where the lead is decided by a few millimeters, and you can see in real time where the race was won or lost. Instead, you lose that excitement, as all you see are some numbers on a leaderboard flicker between green and red, as an over-modified JDM car crosses a dotted line.
F1 Qualifying isn't called a race, because there's no racing. The same can be said for time attack.