It would be bad for the sport if Ferrari won everything. Just look at 2000-2004. It was boring for the most part.
I must admit even I found this period boring.
I like it when Ferrari win but I prefer when there is a good fight right till the last race.
I know it sounds like something out of Ripley's Believe It Or Not!
But it's true. 
I found 2002 and 2004 total bore-fests and it wasn't just because Ferrari were always winning, I first started watching when McLaren totally dominated 1988 and it wasn't boring then, nor was the 90's in the years Williams totally dominated. What was boring during 2002 and the first race of 2004 which totally put me off F1 was the fact Barrichello wasn't allowed to fight for the Championship, he was clear number 2 and also track action was poor thanks to TC, driver aids and Mad Max's stupid ideas.
The banning of TC and engine braking is helping the excitement improve, but Sunday's crap race was a combination of bad results (from my point of view) the fact it's a Hermann Tilke track which has been made worse by the new asphalt, the race being overhyped, the rain never turning up, lack of attrition and the race just generally feeling like being brought back down to earth again after the thriller at Melbourne.

"And Mansell was lucky not to be taken off by that
RIDICULOUS bit of driving by Alliot!!" - James Hunt
"AAAAAND into the pitlane.....
OHHHHHHH!!!!!!!!!" - Murray Walker