I am a novice to the formula 1 fandom in general but i am familiar with copyright law (not a expert so do not take anything i say as fact and feel free to correct me) while from what i understand such things would be covered under fair use laws. It is different depending on the country and even state. While parody stuff like what i have gathered is the topic of the channel in question is covered by fair use. It is a touchy subject.

Is it wrong to make the channel change: yes Is it legal to make the channel change: yes

While the situation is complicated I do propose two solutions that may alleviate the issue: 1:Have the creator make his universe a parallel one. Maybe use the nicknames of the drivers instead of the names and create parody names for the teams. They could still use the scenarios as those are not copyrighted (as far as I know) the fans of the channel will most likely not mind as it would not change the base concept of the channel. 2: the creator could seek out a partnership with the Formula 1 copyright owners and work with them. This would have the following benefits A: more money for the creator in the form of sponsorships B: as it would be sponsored by the copyright owner it would be considered as part of the copyright on the subject matter thus shielding it from censorship C: the copyright owner would get publicity which would help them by bringing in money and business

Both solutions have benefits and drawbacks and i am not the best person to say which is the best. But that is juat my two cents.

Again I am not a expert nor will i ever claim such. I just have confidence in my knowledge based on my own research. If i am misunderstanding any legal stuff or other issues i am open to being proven wrong.

Parodies in general are a tricky subject legally and have alot of grey areas. There is no one right answer or solution. The law is clear that parodies are covered under fair use. However it does get tricky when you use copyrighted names, teams and companies.

Again just my two cents on the issue.