You are correct. Honda has openly admitted that they do not have the budget nor ambition to reenter F1 as a stand alone manufacturer, but have also openly stated that they might return as an engine supplier. This marriage actually makes a LOT of sense for both parties involved and, if true, is somewhat serendipitous. For a casual F1 fan such as myself, and as an old (and disenchanted) "Honda Fanboy", this would reinvigorate my interest in the sport from that perspective.