The intended 2014 engine rules have mandated a fuel flow rate regime and a capacity limit.
The capacity limit has been chosen to force the use of a turbocharger, disguised as an energy saving device (Thermal Energy Recovery Systems)
Surely road vehicle relevance would be better served by scrapping the capacity limit, so allowing naturally aspirated engines and turbocharged engines, that is engines of whatever type and capacity the designers feel best for the mandated fuel flow.
This change would allow something good for all current and potential participants. As they stand the rules are a disguised free advertising campaign for certain big manufacturers who like a gloss of technical credibility to sell lots of expensive cars.
Turbochargers do not and cannot use energy that would otherwise go to waste.
They use energy 'stolen' from the piston in 3 ways, (of course this stolen energy is well invested, by increasing the mass flow through the engine without increasing friction, power is increased and efficiency usually maintained).
In WW2 etc aircraft engines there was (intentionally)useable waste energy in the exhaust,because the compression ratio at the piston was deliberately kept low to allow very heavy supercharging for very high powers regardless of economy. The resulting waste energy to the exhaust was largely recovered in turbocharging, or more conspicuously in PRT compounding, or by jet action.
For real road relevance (and more competition) in F1, let's see free choice of TERS, that is no TERS, turbocharger/TERS, or natural aspiration with TERS !!
The proponents of TERS have nothing to fear, surely ?