I hate to be the bearer of bad news, but professional racing was always a business. It has always been about money and sponsorships. Granted, when manufacturers still had the "win on Sunday, sell on Monday" mentality, it was a whole lot more glamorous because engineers and drivers had virtually unlimited budgets and resources behind them. But manufacturers cannot afford this type of sponsorship anymore as it doesn't pay out - and at the end of the day, they are accountable to their shareholders and cannot support unprofitable activities.
Racing does not exist in a vacuum - every sponsorship matters to drivers and crews as it takes money to make these events possible. And regulatory bodies cannot pay for insurance, tracks, and all those other administrative functions without filling the stands and signing TV contracts, so they will write the rules to make racing as entertaining (not competitive, not glamorous, not with any attempt to hanker to days gone by, but just entertaining). So you see regulatory bodies like the FIA following the NASCAR formula of making cars as equal as possible, making team budgets as affordable as possible, and setting up championships to get maximum TV viewership. Really, this is the only way that professional racing could survive at such a high level.
With regards to all those posts about racing dying with the addition of safety measures being implemented, I'd like to say that is possibly the most asinine thing I've ever heard. Le Mans got chicanes because people were dying. Group B was canceled because the drivers' and co-drivers' remains could only be identified by their dental records. F1 got safety measures because the drivers were pushing for it - just have a look at the efforts of Sir Jackie Stewart after he got out of racing. Aryton Senna's death was a tragedy to the sport - anything to prevent that from happening again should be welcomed. When it comes to glamour vs. safety, I'll take safety - the sport depends on it.
+1
Now, that's not to say racing is dead. Professional racing isn't as entertaining in some respects as it used to be - I'm as much a fan of unlimited development and Group C rules as can be implemented and that's just not feasible at the current moment. But amateur racing is, as it always has been, far more entertaining. If you think racing is dead, go to your local track for an SCCA or NASA event or head out to the woods for an amateur rally and then come back here and post about the "death of motorsports." I bet you'll find it far more difficult.