The Haas F1 boss believes the domination from the top two teams is so great that the budget cap simply has to be in place for the sport not to be completely ruined.
Steiner outlined his desire for at least an attempt of levelling out the financial playing field in the future and the team boss believes he will receive support from other teams on the grid, as well.
"I think for Formula 1, let's speak about that in general, (I'd like to see) a level playing field, and for Haas, exactly the same thing," Steiner explained to GP Fans in Barcelona.
"With a level playing field financially, if everyone can play with the same means, the same resources or a similar amount of money, it makes it more competitive with closer racing.
"That is what the fans want to see in my opinion, and I think Mattia (Binotto, Ferrari boss) and Toto (Wolff, Mercedes boss) are on the same page. They are getting there.
"After a while, just dominating, you know that you are just destroying something. I think we are just discussing small details (about the 2021 rule changes) now to get there but I think (all the teams) are on board.
"I think the big teams will still have an advantage anyway because their infrastructures are so much more developed, but their advantage will be smaller. What would be better than having an underdog winning a race?
"Like when Brawn won the championship, I think that was fantastic for the sport. I would like to see that, and I think the fans would want to see that."