I did a 10 year Sim with both normal transfer frequency and also one with increased frequency. The frequent one was more normal, weirdly.
In the normal one, I had the likes of Hakkinen getting replaced with O'Sullivan, Senna replaced by Villagomez and Hamilton kicked out of Ferrari because they couldn't say no to the true brilliance of Barnard.
In the frequent one, drivers did move around alot but it just seemed like people had their level. So the good drivers just rotated seats and the F2 Fodder filled in the gaps of retirements and the backmarkers.
One weird thing I noticed was that in both scenarios, out of the 20 seasons across both simulations, in 16 seasons whomever was the drivers world champion didn't drive for the same team next year. I kinda expect that in the increased frequency one but that's quite high across both. In 5 seasons, they weren't even on the grid the following year.