This makes sense for various reasons. Mercedes have lost their star customer team, McLaren, to Honda and need big name and big budget customers to help pay for the new 1.6 litre turbos. Force India already use Mercedes and will do for next year but they've never risen above the mid-field whereas Williams F1, although they have been in the doldrums for years, were once multiple champions.
The downside to Williams and Renault parting company is that we won't get to see a Clio Williams.
Joe also believes that Renault may take a bigger stake in Lotus F1 which will bring brand benefits for not much extra cash. Of course Lotus' star is Kimi Raikkonen and he's already talking about retirement being an option for next year. Maybe the extra Renault cash will help Lotus convince Kimi to stay with them for 2014.