Technology can make the racing uninterested. ABS and TCS removes all the risk from cornering and braking, so you don't get spectacular overtakes on hard braking, which is a big part of racing. So, some technological advances actually reduce the entertainment factor.
Thankfully, my favorite form of racing, motogp, has benefited greatly from recent technological advances. http://www.youtube.com/watch?v=-YAiXqOwkmE