Apart from the idiocy of another Tilke-designed track, I see two difficulties with the locale. The first is scheduling. Owing to the present emphasis on thrift, they'll want to schedule the GP of Texas when the F1 circus already are in the Americas, meaning adjacent either Canada or Brazil. I rather doubt F1 want to deal with the tire-melting and power-sapping heat of a Texas summer (pray what tire compound
does one use in a tornado?), which means Texas and Brazil likely will be "paired up" on the schedule. That not only takes some measure of flexibility away from the FIA in terms of scheduling, Americans tend to be less flexible with their holiday plans than Europeans. A venue with less extreme summer weather would have improved domestic attendance.
The second problem is transportation. I'm not accusing Austin of being primitive but Dallas has the better accessibility. American Airlines have their largest hub in Dallas and Southwest are headquartered there. It might make no difference to the F1 circus but it does to the fans, particularly those traveling internationally. According to
its Wiki page, Austin's airport's only international flight is to Cancun, Mexico.
F1 is wounded in the states, owing to the 2005 Indy debacle. The Texas Tilke disaster should fair finish it off.