What was wrong with Renault as a brand? nothing, except that Renault no longer OWNS the Enstone based racing team. Genii Captal and <Group> Lotus Cars now owns the Enstone team, which will continue to be powered by what are essentially customer Renault Engines, as the original Lotus team also did for several years, It is now Lotus, not Renault. Renault no longer owns a F1 racing team. They could just as well call the team Toleman or Benetton, and in reality, could be powered by Ferrari or Mercedes or Cosworth engines in the future.
I still don't feel The IP Fernandes owns is worth a snip. Group Lotus has been participating via sponsorship in Indycar this past season as Team Lotus, in the same Team Lotus BRG and yellow as Fernandes F1 team did and will be (if all goes as planned) participating as a manufacturer in 2012.They also presented cars in black and gold and all yellow liveries similar to other former lotus F1 team colors. Fernandes has a nice race team that will be buying the same Renault customer racing engines.
The difference between the two is one group actually owns a car company called LOTUS, and the other owns a racing team officially known to the FIA and F1 as "Lotus Racing".
Proton/Group lotus are behaving like a bunch of ninnies, but IMHO, they should have the right to race under their company name as a true automobile manufacturer.