The smaller clubs do not need Rangers. Should they demise one of the other clubs will rise to take their place, that is how these things work. No major league in the world has permanent one team domination as far as I know, the support and the resources available to Rangers will gradually transfer to clubs like Aberdeen or Hearts. The present four division system has strangled Scottish football and four Rangers v Celtic fixtures a year have benefited no one but those two clubs. As for Sky's money, that is exactly what has caused the problems in the first place as is the case in England, clubs spending Sky's cash several years in advance of receiving it and then finding out the principles of basic arithmetic.
Rangers won't be the first big club in Britain to hit the skids, of the twenty premiership clubs last season only two, Stoke and Wolves have zero debt. Some of those debts are affordable, Arsenals for instance, but most are being slowly strangled as they march on as blind to reality as only football clubs can be.