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They make regulations in cooperation with the present manufacturers, just as the outgoing era. It's not the promoter and FIA alone making them. ACO had to do it for its own survival whereas this is a planned change and meant to attract manufacturers. Last 10 years we've also had two five-year regulations.
If they can't attract manufacturers it will be a frustrating fail for them, yes, but that would be obvious anyway when the plan is to get more. I'd rather be critical of future failures rather current shortcomings, especially since VW and Citroen abruptly left. The WEC factory entries aren't exactly new either, more or less just re-entered aside from Peugeot, which also competed some 10 years ago. Their WEC history is more than rooted with them and the affiliation is quite strong so it's only natural for them all to rejoin.
People are cheering because at least there will be a continued series in the present form, Hyundai might've been a goner after all. I still count M-Sport as a manufacturer, not like they lack know-how, certainly didn't in 2017 and 2018. Though I'd also want Ford in so it would be an official manufacturer instead of just a company name lining up with Toyota and Hyundai.
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