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Bit of all of that, really!
The spec parts are an attempt to make it a bit cheaper.
The aero changes are to [theoretically] allow the cars to race closer together. Quite a lot of effort has gone into this bit, apparently, and amateur CFD I've seen seems to show that the wake produced by the leading car does not affect a following car or a car to the side anywhere near as much as the current aero regs.
The wheels are a bit divisive. Literally no F1 engineer wants to move away from the current gumball tyres because of the performance advantages they offer. However, it has to be recognised that, from a fashion perspective, no vehicle uses tyres like these any more and people are far more likely to relate to big wheels and lower profile tyres. Another argument is that series like WEC already use larger diameter wheels with lower profile tyres and they do not suffer from performance issues.
So is this new car a heartfelt attempt to make racing cheaper and closer or just some ‘kids want big wheels and swoopy lines’ bullshit?