I'm really torn over the subject of fuel limits in F1 and MotoGP, and with engine layouts as well.
I do think racing is the most engaging when it's not too far removed from what can be used in production cars. spinning V8s and V10s to insane RPMs isn't really all that applicable. So from that standpoint I think turbo engines make a lot of sense. As the '80s proved, they can be pretty exciting cars. And quite frankly, they don't have to sound boring. While I do find something spine-tingling bout the current cars' sounds, sometimes they do just sound shrill. There's no bellow, no roar, no snarl...
Of course, there I'm getting into really subjective territory. I think whatever works really well will end up sounding pretty good to me by association.
On fuel limits: I don't know. It can certainly be anticlimactic to see a battle fizzle 'cause someone's running out of juice. OTOH, it's just another element in an engineering/strategy/driving battle, and it feels less contrived than the DRS or even KERS, which may be among the most applicable parts...