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Formula 1 could not survive without government sponsorship. ALL of their races aside from the ones they plan on having in the U.S are all government funded. Texas had a bit of government funding, but before that the races were privately paid for.
For the amount of money each series takes in per race, and what each respective series' teams spends per car, given that F1 costs 10 times as much as Indycar, I don't think F1 cars are 10 times faster, or even their drivers 10 times better.
For a national series, Indycar is doing pretty well. Could be better managed, but it's a nice solid package they have for the fans.