There is no business case for the BMI brand surviving, none at all. LHR-BHD / DUB will have the option to be served via Aer Lingus' existing DUB and BFS services, freeing up slots for long haul, as the model states. BA could not make Northern Ireland pay and if anything it's less likely to work now.
As for Virgin, they're no longer serious players, and they certainly do not have the skill set in place to save BMI, not in a million years.
Skipness, this sums the whole thing up, you are right.
EI-BUD