I don't think Top Gear could survive in it's present format without Clarkson, especially as there are now likely to be three new presenters if a new series is made. It will be a totally different show, because the dynamic of Clarkson, Hammond and May was what made it so popular. It was a highly entertaining show, even for people who weren't really all that into cars, and I think the BBC will struggle to find that sort of chemistry between presenters again.
I certainly agree that Clarkson's actions merited a severe punishment, but the effective axing of a worldwide TV franchise, along with the costs involved, seem disproportionate to the severity of the 'crime', and goes to show how namby pamby left wing the BBC is now. What should have happened was, it should have been kept 'in-house'. Clarkson should have been suspended without pay for a year, the producer he hit should have been sent on a bloody good holiday with all of his family, at Clarkson's expense, and that should have been the end of it.