Froome traditionally has always relied on brute strength except for a single downhill finish and a single echelon stage where his team got in him on exactly the right wheel. Even on the back foot, his attacks were formulaic.
Hard to see Ineos ditch him if they'd believe he was still a contender.
I somewhat disagree with both points.
In regard to the first, Froome has consistently displayed a willingness to do whatever it takes to win and the intelligence to understand what that is. From crushing competitors' spirits with a single dominant performance, to yoyoing off the back to avoid blowing up, to following Sagan, to attacking out of the peloton on a downhill, IMO, he has very intelligently managed situations. "Formulaic" implies predictability and "brute strength" implies inevitability, but I would not say that is fair to him as a rider. I admittedly was a fan of his when he upstaged Wiggins became very much not a fan when he upstaged my favorite, Contador, and began winning me over as a fan again in 2016 when he began showing the savviness of an elder champion and the grit of a hungry one (running up Ventoux was really amazing; as much as I like Pinot, he would have sat on the side of the road and cried; not sure anyone other than Froome would have literally run for the victory).
In regard to the second, they might still believe he's a contender, just a lesser contender than Bernal and with fewer years of productivity in his future, and thus not worth $5m per annum. This doesn't necessarily serve as a signal that there are behind the scenes indicators he cannot contend.
Having said all that, I do not think he will be a contender this year.