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I don't understand why any motorsport that is effectively financed by advertising sponsorship would seek to reduce the exposure of those sponsors to potential customers. The deal would generate a short term gain, but sponsors surely want as many people as possible to be exposed to their brands and this is not achieved by restricting TV coverage to Pay only channels. The long term effect is likely to be that sponsors and manufacturers will start to pull out of the series. Definitely not what we want.
I enjoy watching MotoGP, but I'm not prepared to pay for a premium channel to do so, and I think many others feel the same.
This sort of thinking has effectively killed off the World Rally Championship which has suffered from an exodus of sponsors and works teams over the last few years, following the decision to move TV coverage to Pay Only channels.