In all honesty, they should just rename it to what the car is: a Renault. Everything, from the chassis to the engine, is made by Renault. Legally there will be no way the Lotus name will be kept, so the team should just accept it and move on. In all honesty I don't know why they didn't name the team Renault from the beginning for the 2012 season.
These two races have been very, very exciting though. To compare:
McLaren: Excellent qualifying pace, great race pace
Lotus/Renault: Great qualifying pace, excellent race pace
Red Bull: Good qualifying pace, great-to-excellent race pace
Sauber: okay-to-good qualifying pace, great race pace
Williams: mediocre-to-okay qualifying pace, good race pace
Mercedes: Great qualifying pace, mediocre-to-okay race pace
In all honesty, if it weren't for Romain's immaturity in the sport (constantly going off the track/crashing/not finishing races) and lack of aggressiveness and Kimi's bad luck (went a bit into the gravel in qualifying for Australia and had a 5-place grid penalty in Malaysia) Lotus/Renault would currently be where Red Bull is right now, if not better.
Lotus really needs to get Romain to be more aggressive, more attentive and more cautious all at the same so they can finish a race and get some good points. He's a good driver, so I'm pretty sure he could finish most races in 4th to 6th.
Kimi has shown he has good qualifying and race pace. I'm sure if he didn't have that penalty in Malaysia he would've gotten a third place podium by passing Hamilton.
If Lotus/Renault can sort out those issues, I'm sure we'd be seeing a straight-on battle between McLaren, Red Bull, and Lotus.
These next races are gonna be crucial for Lotus in particular and very exciting.