It was just five years ago, at the end of the 2008 campaign, when F1 last took a long, hard look at itself and realised dire times required drastic measures.
As the global credit crunch gained a stranglehold, Honda became the first F1 heavyweights to succumb, despite the Japanese manufacturing giant's monetary might.
Then Max Mosley, president of motor sport's world governing body the FIA at the time, attempted to implement a budget cap to not only provide a safety net for those still competing, but also to encourage new teams to join.
As per usual in F1, self-interest amongst the richer teams prevailed - not to mention the fact that Mosley's position was arguably undermined by aspects of his private life being brought into the public domain.
Mosley has long since maintained the budget cap would have worked if he had been allowed to implement his proposals, although some doubt whether that would have been the case.
Come the end of 2009, BMW and Toyota also fell by the wayside, and although three new teams did emerge at the start of 2010, it was not on the premise of a level playing field with the big boys as promised by Mosley.
The teams attempted their own means of curbing costs in the shape of the controversial Resource Restriction Agreement (RRA), but that was at a time when they were all under the umbrella of the Formula One Teams' Association.
That is now an organisation divided, with Red Bull, Ferrari, Sauber and Toro Rosso no longer affiliated, with the former marque the most outspoken when it comes to the RRA.
Team principal Christian Horner reiterated in March of this year that "the hardest thing in the world is to police what a company spends".
Horner added: "A resource restriction...is fundamentally flawed because of the structures of different companies: Ferrari operates in a completely different way to McLaren or Mercedes or Red Bull."
Horner has a point, although the belief of the critics is Red Bull do not want to play ball as they are the heaviest spenders, a suggestion he has vehemently denied.
Horner believes the easiest way to cut costs is through stable rules, yet the teams shot themselves in the foot by agreeing to the biggest regulation change in years.
F1's attempt to be greener and leaner from 2014 sees the introduction of turbo-charged 1.6-litre V6 powertrains replacing the current 2.4-litre V8 engines, yet the costs are staggering and several teams are struggling.
The suggested figures on a year's powertrain supply range from £15-25million, with Mercedes reputed to be the cheapest, Renault the most expensive, and Ferrari somewhere in between.
Yet all the teams signed up for the changes, and now the majority are wearing worried frowns and the word 'crisis' is again being bandied about like confetti in the F1 paddock.
You know there is something abundantly wrong when a team like Lotus, now seemingly a major player after winning grands prix and claiming many podiums over the past two years, cannot afford to pay a driver.
The Kimi Raikkonen saga, with the Finn close to going on strike ahead of the Abu Dhabi Grand Prix after revealing he had yet to be paid one penny of his £10million salary this season, whilst a great story, has simply brought to a head yet again the financial flaws in the sport.
A consortium by the name of Quantum Motorsports is supposed to be taking a 35 per cent stake in Lotus that would help dig them out of their hole, yet we still await official confirmation of a conclusion to the deal.
Earlier this season Peter Sauber confirmed he was struggling to pay his team's bills until the arrival of a trio of Russian investors, but even then their interest is shrouded in mystery.
For four years now Marussia and Caterham have been competing in F1 yet have failed to make any headway, with both still awaiting their first point, a situation that surely cannot continue for much longer.
Force India may have generous benefactors in Vijay Mallya and Roy Sahara, but there may come a day some time soon when they deem it prudent to cut their losses and run from F1.
As McLaren team principal Martin Whitmarsh recently remarked: "We are not at crisis yet, but we have to be careful we don't wait for that crisis.
"We have made some mistakes with introducing the new power trains, we didn't control the costs enough, and the sport may well pay the price of that over the next 18 months."
It is a word of warning, but whilst those in F1 talk a good game, it is actions that are needed otherwise one almighty crash is looming.