It makes perfectly sense for Geox to pull out. If your investment depends on access into certain races and suddenly you can't be sure you get into those races, it is probably best economically speaking to cut your losses and pull out. I can't blame them, if I were part of the board of directors of Geox I would seriously look at the costs of pulling out.
Vaughters does have a point that the current system is flawed. In my opinion he doesn't give a solution tho. In my opinion the idea of a group of teams having certain access to events all year long is flawed in itself. Simply because there is a huge difference between cycling and other sports. Football (soccer for the Americans) is played the same all over the world. Formula 1 races always have the same basics. Sure the tracks might be different, but they all require the same thing. A car being fast at track A is very likely to be fast at track B too.
Now look at cycling. For a team to be successful in the Tour, they need completely different riders than to be successful in Paris-Roubaix. Riding PR is completely different than riding the Tour. So why does a team get a guaranteed entry into both races no matter if the team is suitable for both? A 100m sprint is as similar to the marathon as PR is to the Tour. But Bolt doesn't get entry into the marathon either, does he? And that is before you consider sponsors just having no interest in participating in certain races because they are in countries they don't care about. And also before considering riders only being able to target a certain amount of races.
Basically any system that has MSR, PR, LBL, PN, the Giro, Suise and the Tour in the same entry system won't work. So how to solve this? I don't think you can. Question is tho, why does it need solving in the first place? Was it really that bad all those years before the Pro Tour? Sure at times you had the occasional (usually Italian) rider who missed out on the Tour. But I would say most times ASO did a good job selecting teams. Although the guarantee sponsors might want was missing.
Now lets look at it from the ASO and other organizers point of view. They want the strongest riders possible entering their races, combined with as many people their main public cares about. In other words, local riders combined with big stars. So they want room for wild cards. Wild cards that go to local teams, so a sponsor that didn't get into the automatic access group has something to worry about. But you can't blame the organizers for that. Their local market is more important than some random sponsor, no matter how big they might be.
Now if I were leading the UCI, what would I suggest? I would keep the World Tour races, but drop the World Tour teams. But I would change the status of some races to better reflex their importance. Sorry Canada and China, but WT is still a bit too early. In 2-3 years they can move up to WT tho. No team will have automatic entry in any race by default. So I suggest something like this, which probably has major flaws, but still.
1) The top 10 teams at the end of the year will have right of entry to all WT races. Ranking depends on the team, not on the individual riders. Riders leaving or joining the team have no influence on this ranking. It also is right of entry, so if a team doesn't want to take part they can skip the event. I rather have a motivated local team taking part than the C choice of a top team. Of course if a team in this category wants to send their C choice, they can.
2) The top 5 teams not part of 1) at the beginning of the year will also have right of entry to all WT races. This ranking is based on the team ranking AFTER transfers.
3) The top 3 local teams not part of 1) and 2) have right of entry to all WT races in their country. If the country actually has suitable teams that is of course.
4) With up to 18 teams set, the rest can be used as wild cards. Because point 3) already gives local teams access, these wild cards can be used to give entrance to teams that have riders who did well in the event last year or can be expected to do well.
This system in my opinion solves a couple problems. Teams like Euskaltel no longer are forced to ride PR. Teams with no reason to ride at the other side of the world, no longer have to. The really big sponsors can still buy themselves into the Tour if they want to. Building a team around 1 star mostly likely isn't going to do it tho, but the sponsors will know what they will need to do. The organizers don't have to worry about having enough wild cards left for local teams.
Either way I think the most important change I want to see is going back to right of entry, instead of being forced to take part.