The v10 may be dead as a passenger engine but for a race engine it's still superior.
Electric motors and batteries have less performence per kg compared to an engine and fuel. If rules were changed and teams were allowed 300KG for an engine, fuel, motor, and battery you'd see teams use motors and batteries even less than then they do now.
Technology making cars faster is what f1 is about. The v10 made 1,000 hp and weighed 120kg, the motor & engine in today's cars make about 1,000hp but weigh close to 200kg when battery, motor, and engine are considered.