It's probably better this way, rather than handing it over.
Now people have to prove they're serious about making an RM faction and make the effort rather than just give it to another bittervet who won't put his heart into it. Would hope some newer players give it a go.
As former 2iC of [RM], I'm sad to see all lawful factions to end in this way and I'm kind of disappointed in your approach to the problem. But you do you and I wish you the best in whatever you are going to do next, be it other factions, other games or real life.