alsoknownas
some bloke
I don't think any of those are genuine problems.
I imagine money flows into this sport in all the normal ways - broadcast rights, sponsorship, etc. My plan simply requires a re-routing at source - performance related contracts for drivers and constructors similar to what happens in other sports (tennis for example). Yes, there will be arguments - but there always is when it comes to divying up the cash!
Car tuning and development would be different from how it is now, but that would be part of the skill - which garage can 'tune in' to drivers needs the fastest? Be more adaptable on race day? Lurch from one set of priorities to another from one race weekend to another, more precisely than other teams? It offers opportunities for smaller teams to gain 'soft skills' advantages for example.
Recognising drivers would not be a problem at all. Colour coded halos or something would take care of that. For broadcast there are loads of clever ways of enhancing that.
Secrets is more of a problem, as is impartiality (how do you ensure the cars are set up similarly for each driver?). But again - neither is insurmountable. Lots of advantages can probably be kept constructor-side ("When you hit these revs there will be a downforce increase - but we can't tell you exactly why!"), and teams will have to differentiate themselves using engineering that doesn't rely on driver confidentiality. I don't think that will kill innovation, just relocate it somewhat.
As for impartiality - you have to heavily motivate the constructors championship so that having your garage's car compete well is the only thing that matters to you as a team. That way you are going to give an equally facilitated ride to each driver.
don't think there is even radio coverage to listen too :O
), but they do have F1 commentary 
