Some facts to help see why these engines may have not been used in F1:
They are designed to burn oil.
Everyone knows of rotary engines. Most know of the reliability... or lack of, to be precise. A rotary engine is incredibly sensitive to oil deprivation, this has been the killer on most of these engines.
In a rotary, the oil must perform 3 functions:
To help cool the engine.
To reduce friction and wear of the moving parts INCLUDING the Rotor itself.
To 'Seal' the apex seals to the rotor housing (critical for compression)
It is worth noting that the Apex seal alone does not seal enough for an adequate compression seal, Oil is the key.
In order for the Oil to do all three, the oil has to be injected into the engine. This means that oil is present in the combustion cycles.
At low RPM's rotaries suffer their worst wear as the oil pressure can be dangerously low for the life of the engine, this is compounded by the fact the engine is cold.
We could then argue that in WEC and F1 the issues of Oil deprivation are even less, due to the high continuous RPM's of racing. The engines are also never started cold, so all of the pain felt by many rotary owners is solved merely by the application of racing the engine.
The next issue then raises itself as a character of the first... the Oil... what oil should we burn?
Well as you guys will know, you should NOT burn standard 10w-40 (or any) Engine oil. It is not made to burn cleanly, and no engine wants those kind of deposits in it combustion chamber!
And guess what the RX7 and RX8 do! yep! they burn ENGINE oil in the combustion chamber
Now we can see why these engines have such a bad reputation for reliability on the road, yet the rotaries that have raced seem to be absolutely fine!
To run a Rotary properly (the difference between lasting 50k miles and 150k miles) is your oil. Im going to cut this short and say, all rotaries should run either PRE-MIX or a completely separate 2-stroke Oil injection system.
2-stroke oil is designed to burn, it meets all the requirements for oil in the rotary design... and therein, is our problem.
To build an F1 rotary car you would need to:
Burn Oil. (A massive No-No today)
Use two completely different types of oil in the engine (engine oil and combustible oil '2-stroke')
Design incredible heat shielding to fit the current slim designs, the exhausts run a lot hotter than reciprocating engines.
Use a 3-4 rotor design in order to develop competitive HP levels.
Use forced induction as a side effect of cleaning up intake air pressures, as efficient NA air induction is very difficult on a rotary.
The rotary is such a catch 22 engine by design, it seems like the perfect platform for a race engine, given that it thrives on high-rpms and high heat, yet the problems running the damn thing raise far to many engineering challenges that simply out-weigh the pros of using one.
Oh, and of course... F1 regulations are far to boring to allow such fun and incredible sounding things as rotaries and nice 3litre v12's