I can see the argument about the bigotry stuff. It's more of a general point though, that there are plenty more teams ready to step up if teams want to leave.
I'll be frank, I'd be surprised if Levy wanted to follow some of the others over the cliff edge. Maybe he would. The smart money woukd be though, Spurs being a leading team in a league containing the Old Firm, Leeds, Everton, Newcastle, Villa maybe Forest etc would very quickly become marketable, and there's a spot for the new "super club" to emerge.