I doubt this will ultimately be a good thing. Golf may become more like wrestling. Or, Formula 1 on Uber-steroids.
Its definitely going to change some things...not sure it ends up anywhere near the current WWE feel the LIV events have, but there will be fundamental changes to professional golf, I'm sure. Mainly though, this is about talent retention, and about money. The LIV things I would guess are most likely to be heavily considered, with some eventually adopted...
-54 hole events...and then backfilling Wednesday/Thursdays with a combination of higher profile Pro/Am events similar to AT&T, but also prime time skills challenge type events as well.
-Lighter tournament schedule requirements per player...this is becoming an issue for a lot of the top PGA players already. Probably some sort of blend between the LIV requirements and the PGA requirements. Rory being fined 3M bucks for missing a tournament, right after the Masters, was the kiss of death for the current PGA schedule requirements.
-ENORMOUS purses for the top 5-10 events...Majors plus a handful of other tournaments will have crazy big purses.
-More guaranteed spots, that include salaries/guaranteed money...they've already started this. It'll be come formalized, and there will be more money fed into the feeder leagues as well.
I'm not sure the team model that LIV has will end up sticking. If it does, I'd look for it to be more closely modeled to auto racing teams, as you mentioned. With a team owner...Golf patriarch type guys like Tiger, Phil, Norman, Els, etc... that also have A LOT of money, could be team owners. Maybe equipment brands? Or maybe there are just more team competitions like the Ryder Cup, and they're just setup more like FIFA/FIBA or something?
In the end...I think LIV will just fade away, left with the important remnants that LIV caused all this change with. The new name will be very much PGA focused. What will end up remaining from LIV are the handful of elements they brought that players loved...and most importantly, the Saudi money.