FoM (Liberty Media) should come up with a calendar that has 8 classic F1 races, and the remaining 12 filled with races from a pool of 20 odd circuits. These 20 circuits will get to hold the race every 2 or 3 years.
This will bring in variety in the championship, take the race to more fans, and also if used strategically a paired set of venues can share the effort/costs in holding races and stand to gain in race attendance, promotion costs and many other aspects involved in hosting races.
Paired venues would be Singapore – Malaysia, Bahrain – Dubai – Qatar, Turkey – Russia – Azerbaijan, Brazil – Argentina, Los Angeles – Las Vegas, New York – Long Beach, Estoril – Magny Cours – Zandvoort, Kayalami – Cape town.
This puts onus on F1 promoters to find venues and keep them involved with F1 vs the Bernie model of no money no race.