Good! We need better economic engines for the masses that simply see a car as an item that goes from place a to b, and being part of the Formula series will vastly increase R&D.
As long as the engines sound awesome, I am all for eco and enviromentally friendly F cars in general

Tech is moving forward and you don't need large capacity, cylinder-heavy engines to make power or sound nice. Granted nothing does sound like a v8 or higher though.
I think it's great. I'm all for pushing the boundaries and saving the enviroment in any which way possible. I'm not a keen F1 fan though, so not sure if people will enjoy the lack of pit stops that may be part of it all.
Did you see the item on the news the other day about the new rubber they need to design due to these new engines producing WAYYYYY more torque than what they are used to? This was more the hydro-based engines but it's all along the same path.