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There might be more options on sportscars but F1 will always be the pinnacle of media attention. And that is pretty relevant to a manufacturer.
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It's relative, F1 has worked for Ferrari, Mclaren-Mercedes, Renault and BMW.
It's been disastrous for Jaguar, Porsche, Peugeot, Honda (since they re-entered) and Toyota.
Toyota had a long, distinguished history in the WRC, interspersed with Le Mans programs. Their F1 program has made little more than a ripple amongst the general public, and is derided by motorsport fans.
Whatever they may think, manufactuers can't go against their history, some are destined for F1, others Le Mans, WRC, touring cars etc., with a little crossover.