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The F1 landscape is littered with the bones of "well funded factory teams" that couldnt cut it, with the traditional teams that know how to go GP racing regularly out-performing them.
Toyota, Honda, Jaguar (Ford), even Renault, & so far Mercedes all failed in recent years ... & in most cases achieved far more success once the same designers / mechanics / engineers / drivers / etc were free of the big corporate shackles & began operating as independent race teams.