I think many of the regulations in F1 are because people generally don’t like to watch other people die. F1 drivers killing themselves all over the track is bad for business.
That's definitely another source of regulations. Many of the very specific regulations that dictate minute details are about more competitive races though. For example the current regulation changes that called in effect in 2022 were all about aero that allows for better following and thus wheel-to-wheel racing. Mercedes' wing that flexed a few microns too much had nothing to do with safety
