So, basically remake a really old game from back then? Or have like 30 years of real-life seasons in one game? So say 1996 to 2026 and every season in one game? Or the current teams but 30 years in the past with real-life drivers popping up around the accurate timeframe they did in real-life?
The first one may be tricky, particularly in terms of licensing and I'm not sure whom the target audience would be? It's not going to appeal as much to the new Drive to Survive fans and those that lived through the era are generally too old to be able to have the necessary amount of playtime to make it viable. Sure, it'll probably be successful but then you're only looking at one year. Having re-read it, I don't think this is what you were looking for, but I've long wanted remakes of old games. It's almost seemed a little unfair in games like FIFA/F1 where really old seasons are forever immortalised with the limitations of video game technology of the age.
If it's the second one, then I imagine that'll be a logistical, and processing, nightmare. All those old cars and liveries and sponsorships and licensing will have to be obtained, particularly for teams that don't exist anymore and drivers that aren't interested in being included. Then programming accurate car behaviour and driver interactions for over 300 cars. (30 years of an average 10 car grid, and some seasons had 12 teams). They did have an F1 game that had 4 years in it once and I think that was quite popular.
If it's the third one, then i'm not sure why. It would be more sensible to just extend the MyTeam/Career experience to 30 years and have more (or at least more dramatic) regulation changes than it would be to pretend the years have gone back 30 years and have to wait 25 years or so for most drivers from today.
Maybe i've misinterpreted what you're asking for, but I like the idea and it depends how it would be executed.