Bernie Ecclestone admits Formula One is "not putting on a very good show" following the controversial change to the format of qualifying.
A new elimination-style process was implemented for the first time at the season-opening Australian Grand Prix, drawing criticism from drivers and teams.
The new system remains in place for this weekend's Bahrain Grand Prix, despite suggestions the previous format could return.
Asked if the change had worked, Formula One Group chief executive Ecclestone told BBC Sport: "Depends how you looked at it. The whole idea is we were hoping one or two of the hot shots would be in trouble in Q1 and Q2. It didn't happen.
"We are not putting on a very good show. Imagine if people turned up to watch the Rolling Stones and Mick [Jagger] couldn't sing and the others couldn't play their instruments."
The F1 supremo criticised the change to turbo hybrid engines in 2014, suggesting Mercedes are the only team to have made a successful transition to a system that does not belong in the sport.
"I said this engine would be a disaster and was criticised for that," Ecclestone added.
"Mercedes have done an incredible job with that power unit. It is unbelievable, but it is not F1.
"[It should be] like it used to be. I didn't find anything wrong with the V8s and neither did anyone else."