This is simple. The fault lies squarely with Michelin. They didn't bring the right equipment to the race. Period. They could have, they didn't. They have been racing that track for 6 years now, they have lots of data. The track was reground twice after the repaving. If Michelin wasn't aware of the problems Firestone had initially with the new pavement then they are guilty of Industrial Stupidity. They constructed a tire that had no margin of safety left in it. Oops. Victim of the tire wars.
It is a shame for the fans. It's not the track's fault. The FIA enforces the rules, they're not responsible for putting on "a show". They wouldn't have put in a chicane (and I believe by the rules you'd have to re-qualify) for Bridgestone, who by the way has brought the wrong (slow, but safe) tire to several races this year. I don't like Bernie either, but I don't blame him in this case.
Most F1 races are pretty boring to watch on TV anyway (as one of my driver's says: "It's the best cars in racing, but the worst racing in cars"), I rather enjoyed the controversy from the comfort of my recliner. But Michelin should refund everybody who paid for a ticket.
As for driver's not being able to hold back- that is BS. Endurance drivers do it all the time, and F1 drivers do it this year because of the one tire rules. If I'm paying a guy millions to get his jollies driving my car his a$$ is going to peg that tack on EXACTLY the rpm I tell him, anywhere on the track, or I find somebody else. It could have been done.