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@TalentFan you have to remember that Honda alone of all the major teams there have ever been in the sport have previously threatened to leave because of a rule change and have followed through on that threat.
Back when the FIM threatened to limit the number of cylinders and gears in each class, allegedly to make the sport cheaper and more competitive (ring any bells?) Honda threatened to leave if they did. The FIM called their bluff then and Honda walked. They may do the same again. Maybe they don't have as strong a personality as old Soichiro at the helm now, but it's still a precedent.
However things don't work now like they did in the sixties. Back then the FIM had almost absolute control, now there is the GPC. Dorna, IRTA, the FIM and the MSMA are all represented on the GPC. As such Honda have considerable influence on the GPC (as do Ducati and Yamaha) through their representation by the MSMA and IRTA. Remember the representatives of these groups have to speak for their members.