1. Races will happen.
2. Some will be good.
3. Some will be bad.
4. I won't be able to watch any of them without paying a fortunte/internet/satellite dish shenanigans, and I've better things to do than that. So F1 will have lost a viewer, just like MotoGP did from me when it went behind a pay wall.
If you're in the UK you can watch the highlights on Channel 4, that's the F1 coverage I am going to be seeing this year.