More to the point, F1 did not get banned. Certainly, safety improvements were implemented, but lets hypothetically suggest that safety could never be improved beyond those in 1980. Would you have called for the banning of F1? Did you do so at the time? The point Jackie Stewart was really making was not that F1 was too dangerous (he still chose to race in it afterall), but that it didn't have to be that dangerous.
Without fundamentally changing what the IOM TT is (i.e. building a permanent circuit), there's little that can be done to improve safety. Maybe barriers lining the full length of the circuit, as used at Macau?
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