It is absoloutely ridiculous. The childish situation with the naming and who feels they have the real lineage is one thing, as really we'll still call them Renaults and distinguish them as such. However, the fact that they are both planning to run a black and gold livery is stupid and, to a certain, damaging to the sport.
It is sometimes hard enough for new fans to get to grips with the Red Bull, Toro Rosso livery and just adding to that problem will put people off. Maybe Bernie will step in with universally adimired common sense.
Good points, but it's worth noting that similar things have been done before.
In the early 80's both McLaren and Alfa Romeo ran in an almost identical red-and-white Marlboro livery.
Likewise in the days of customer chassis, companies like March etc would supply cars to multiple teams, and this would usually be part of the name on the official entry. Bizarrely Lotus themselves did this often - the first win for Lotus was an independent entry, not the Lotus team themselves.
And don't forget the times in the 1970's when Cosworth powered 80-90% of the grid, and XXX-Cosworth (or XXX-Ford) filled the majority of the entry list.
Is this new Lotus/Renault situation so different?
But you are right, it is absurd!