Ecclestone is the glue that holds F1 together. Once he's gone don't be surprised if F1 falls apart as every vested interest makes a grab for power.
There comes a time when the glue won't stay on anymore, and it's time to replace it with some screws. What difference would it make if other corporations or banks took control of F1? A good difference I think.
Because then they would look at what markets F1 actually sells in or could sell in, and bring F1 there without threatening to take a race off the calendar every month. Interest in F1 is now permanently
DESTROYED in North America because of this man! Every month we seem to hear about how Interlagos, Spa and Silverstone or some other circuits are gonna get the boot as well. By all means, bring F1 to other countries in Asia and the Middle East, but for crying out loud, it doesn't make business sense to abandon your core markets like that. Keeping your customers is much harder than acquiring new ones, which is why it is so important that you do not lose them.
Although it does make sense to Bernie. Bernie is very old, so he knows he doesn't have much time left to become even richer than he is, if he keeps F1 on the same path it has been going on for decades. So what does he do? He tries to make instant money in countries that are willing to worship him, at the expense of abandoning F1's North and South American, European and Australian fans. He also tries to change up the rules often, to make F1 little more than a circus. Bernie does not seem to care if his business actions today, affect F1's long term future, simply because he'll be dead by then and it won't matter anymore. Combine all of this with the too-nostalgic-for-his-own good Max Mosley and the eccentric Herman Tilke, and you get chaos. It's incredible that F1 is still standing on its feet right now, although some would argue its already on its knees.
This medals system he is proposing is just the tip of an iceberg. As he gets older and more senile we will see start seeing crazier things than this. It is worrying to imagine what he might do a few years down the road, and how he would affect Formula One's long term future doing it.