If the PGA was gone tomorrow, would golf miss it. The same professionals would operate as they always have except without a union. I think it is in about 6000 of the 16000 clubs in the USA today. I don't know Bishop or much about him except that he signs the front of the checks at his club. Check into the benefits an ex prez of the PGA receives. I think he gets a car for life and a few other pretty good bennies... Bishop will be fine but I would wager there will be no more PGA affiliated golf professionals at his club.
I may be biased, but I believe that if the PGA vanished tomorrow, golf in the U.S. would miss it. Would it be the end of the sport? No, but think of all of the support the PGA provides to its members through Section funding and national PSAs each year. Sure, pros would always have their own versions of Get Golf Ready and the like, but it's be doubtful that the impact would be as great without the PGA.
As for past presidents, they do not receive a car for life. Each officer (secretary, vice president, president and honorary president) do receive multiple two-year lease for their length of their service (eight years), but it ceases after that. The thing that Ted will miss the most as a functional past president (other than paid trips to Ryder Cups, PGA Champs and PGA Merchandise Shows) is the influence. He will no longer be able to represent the PGA in an official capacity in any forum, nor will be eligible to vote at future annual meetings, which can wield a lot of power.
Furthermore, while Ted is proud, I don't foresee him hiring only non-PGA Professionals at The Legends from now on, but that's just my two cents.