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All motorsport changed when tobacco advertising was withdrawn, and is still feeling the effect.
Initially, both F1 and MotoGP relied on manufacturers for finance, and that works when the economy is good (remember 2004? Honda, Yamaha, Suzuki, Ducati, Aprilia, Kawasaki all in MotoGP), but the problem is that half of them pull out when the economy goes tits up and you have the issue we have in MotoGP today - 2 big manufacturers left, still throwing $$$ into it to beat each other, and so if you're not on a factory Honda or Yam you've no chance.
F1 now has a good model, with limited manufacturer teams but keeping the manufacturers involved by supplying engines. It's a bit like the early 90s, with McLaren Honda, Williams Renault, Benetton Ford etc.
I think if MotoGP wants to end this cycle of Honda v Yamaha with occasional Ducati input, it needs to call Honda's bluff when they threaten to pull out, and limit manufacturers to engine suppliers only. If Honda want a factory team, have them a