In the new league scenario, WU, if not solvent, is given the axe and another owner/group/club that is solvent takes their place. While not ideal, there is no need to prop up a failing entity if there are others able to step in.
Yep that's the plan once the league is presumably up and running. But in the context of current commercial agreements, that is more easily said and done. You don't really want to kick off the whole thing with an FFA albatross hung around your neck.