Boost, nitrous oxide, higher compression, technology, engineering, etc. are all "replacements" for displacement ...
Displacement is the easiest, cheapest way to make more power ... However, it should be noted that additional displacement also has its drawbacks such as increased mass, increased size, and increased center of gravity ...
1980s F1 1.5 liter turbocharged V6 - 1200 hp
Current F1 3 liter V10 - 900+ hp
Now, before someone screams out, "Those are F1 engines. They're not the same !" ... You're an idiot ...
It's still a conventional piston-based engine with a shitload of money invested into advanced technologies to increase power out of a relatively small displacement engine ... In the current F1 engines, they have no boost, no nitrous, only superior technology, engineering, high compression ratio, and an insanely high redline approaching 20,000 RPM ... And most of them do the 1/4 mile in the 9s @ 180-200 MPH ... The time is rediculously high for a 900+ hp car that only weighs 1325 lbs, but the trap speed is an indication that it could be much faster (in the 1/4) with better traction and/or more suitable gearing ...