Seems like naming a product F1 when that's one of the most popular motor sport brands in the world might be slightly a bad idea in terms of trademark / branding?

One could go either way, but Trademark wise, they're probably considered to be in different markets/domains, and thus have enough of a separation to not actually win that suit.

Think Monster Energy losing all of their suits around other using "Monster".

I think Formula One can say a phone company is planning a Formula One branded phone "real soon now" and C&D this phone...

There was once a McLaren-branded OnePlus 6T: https://www.motorsport.com/f1/news/oneplus-6t-mclaren-editio...

I don't see a problem. It's not like there are pictures of race cars in their branding or anything else that might confuse a consumer. e.g. the design of the site is about as far from anything motorsport as possible.

Appears to be an attempt to rebrand a cheap phone and sell it for $200? Looks to be a YINGTAI T22 available for $50 on AliExpress. Glorified drop shipping store.