Something like this is absolutely necessary. Automakers that don't consolidate will not survive this recession. If Porsche isn't able to come out with a new "entry level" car quickly enough (which is how it survived the recessions of the 1970s and 1980s) they're toast. The market for $60,000+ SUVs for part-time real estate agents and soccer moms is DEAD. The market for $80,000 sports cars for day traders is DEAD, the market for $130,000 boy toys for financial managers is DEAD. Their numbers suck right now - they're in the tank down over 40% y-o-y. They desperately need a "new" version of the 924, 944 or 914 (or all of the above). It would take several years at best for this to happen and even then, there's no guarantee. Getting on board with someone else and trying to survive as part of a collective is VERY sensible right now.
Plus there's always the possibility that it might lead to a Porsche-badged car with say, a Bugatti Veyron engine in it...
(I know, I'm dreaming...)