I think Bellator will be around for a while. I'm not saying that it will thrive, but there's too much $$$ behind it to just get bought up or fold after a tough season. They aren't making the same mistakes that Strikeforce did. I acknowledge that their tournament format and lack of championship fights is problematic, but they have Thursday night to themselves, and I think they'll establish an audience on Spike.
Bellator was totally bluffing with the PPV bullshit that came out at the injunction hearing. They run a tight business model, which will ensure their longevity. And ultimately, even they know that Alvarez won't be fighting for them, which means they won't bleed themselves dry overpaying for fighter services. They're just making a calculated effort to drive up the price for Zuffa.