Ferrari still enjoys a "sweetheart " deal in F1. You could argue that, as the only team to continuously contest in the series since the beginning 60 years ago, it deserves it. In any case, Ferrari does not lose money on F1.
It's worth remembering Luca di Montezemolo had a plan to float Ferrari on the Singapore exchange at the turn of the century but FIAT at the time had a more immediate financial needs and the deal never came to pass.
Here is a letter from the new Chairman Sergio Marchionne laying out his case for this move. Judge for yourself.
If the fear is of a Ferrari the could become a ghost brand like Jaguar or Aston Martin, I think there is no need to panic. Maybe Fiat-Chrysler will not be Italian anymore but Ferrari will remain so because it would be nothing without that and it's masters seem to recognize that.