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Open wheeled cars have been racing on ovals since the sports inception. The sports' arguable raison d'etre is the Indy 500. IMS has proven to be a relatively safe track, with banking at about 9* and 2.5mi as opposed to Vegas which is 20* and only 1.5mi in length. Ovals have always been a part of Indycar and I don't think this will nor should change that. Before the merge with CART, Indycar was nearly all oval racing. It would be an over-reaction IMO, to abandon all ovals when they really aren't the problem. It's the very high sustained speeds at short tracks with high banking that introduce the elevated risk to open wheeled cars.
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