Sure, and in those cases those retailers may choose not to partner with Honey. However, Honey maintains an active partnership with quite a lot of happy retailers, even after PayPal took over.
I think you need to watch the original video (again), because it sounds like you're making arguments that aren't grounded in the actual reality of Honey, but are based on what a normal company would do and how businesses interact and stop interacting with those normal companies.
