I don't know that I'd say it's a sign of economics beyond the high price of running an F1 team. That's a reason they cite but they didn't look at how the sport in general could be made more reasonable for the teams. On top of all the basic costs they're now forced to move teams back and forth to the middle east, the far east, north America, Europe, Australia, etc. Add to that the childish foot stomping and whining from King Bernie over the years who really would <span style="font-style: italic">want</span> to bother with it anyway?
F1 was on the brink of utter destruction earlier this year when teams were talking about splitting away to form their own series. In the grand scheme of things losing Toyota isn't that big a deal.