Tesla killing F1 is a conclusion too far. The success of electric vehicles makes the calculus less good, but it's just another term in the equation for a company doing business in F1. Honda are still in other ICE motorsports.
I think it's worth pointing out that Honda staying this long was a surprise in itself because, to be blunt, they were absolutely awful in their first years and no better than their rivals now.
Also, the issue for a battery powered racing series isn't really efficiency at the moment but actually just being able to actually do the race distance at an acceptable speed. If they could make Formula E cars go fast enough they'd have already switched, or at least put pen to paper.
I think it's worth pointing out that Honda staying this long was a surprise in itself because, to be blunt, they were absolutely awful in their first years and no better than their rivals now.
Also, the issue for a battery powered racing series isn't really efficiency at the moment but actually just being able to actually do the race distance at an acceptable speed. If they could make Formula E cars go fast enough they'd have already switched, or at least put pen to paper.