Indeed, team president Sergio Marchionne recently eased the threat, saying that the latest negotiations with the FIA and Liberty Media over the future were more fruitful.
"Ferrari is an iconic brand," FIA president Todt, himself a former Ferrari chief, said in Barcelona.
"There are several reasons for that, and one of them is that the sport is very important for them. Ferrari profits from racing and racing profits from them.
"I'm convinced that if we set up a good format, they will continue to be interested."
However, Todt said that the FIA must also think about the other teams in F1.
"We have to do something that's good for 10 teams, not just one," he insisted.
"More than half of the teams are in difficulty, and that's not good for the premier discipline of motorsport. That's why we have to do something about the discrepancy between the teams."
At the heart of that problem, said Todt, are the high costs.
Therefore it looks likely that, in the 2021 regulations, the 'MHU-H' element of the power unit will be scrapped.
"It's an interesting technology, but nothing that is absolutely necessary to have a good world championship," said Todt.
"We want to make things simpler, and above all we want to interest new manufacturers. We are well on the way with the engine regulations."
The 2018 championship continues next weekend with the Monaco Grand Prix.