They are in the process of rebuilding their team with new investors. It may sound crazy now but long term it'll be a good deal for them as they will get right up to date engines rather than year old technology from Ferrari.
Yes, Honda are struggling right now but having two teams running their engines (unless McLaren decide to move to Mercedes power) will give them much more development miles. Honda are also now using Ilmor, who helped develop and transform the Renault power unit after the issues with Red Bull. There is also talk of Mercedes providing Honda with consultancy advice to improve the electronics and hybrid systems although specifics about any deal are yet to be fully agreed.
This year with the revised design for Honda could be difficult but with their in-house development, Ilmor and possible Mercedes consultancy.....I'd say Honda will get this sorted!