The only people who might benefit from the switch is Michelin, everyone else stands to ramp up the cost exponentially. In a time when they are cutting cost to some ridiculous degree with F1 car running the F1 equivalent endurance motor, gearbox, and freeze engine development and even time(and capability) on their own off-track testing equipments that they already own, suddenly tell them to relearn everything that they've learn in the last 2 decades(well maybe a bit extreme) in 9 months time is backward logic at its best....
Yes there are loads other formula that runs low profile tire, but none of them runs a 5G brake/5G cornering performance envelope, and none run to a 1500lb car. The tires themselves is going to be different regardless, and any appearance of "relevance" to road car tires is just that, appearance. For Michelin to demend F1 to change their formula is more of a case of a tail wagging the horse...