It is really good news. Because I was really sad to hear that Honda was about to end building engines for Red Bull by the 2022 season. The Honda - Red Bull relationship in F1 is going on very well as Honda has built a great engine for Red Bull for the last season and Verstappen became even the champion thanks to a really fast car. This deal must go on as long as possible for Red Bull to continue to be strong. As long as the engine is strong, they will always be one of the biggest candidates for winning a title.
It wasn't sad that Honda would stop, but it was sad to learn that Red Bull would have to learn how to build their own engines which we all know would be terribly difficult to do. Of course I would love to see Honda building engines forever if they can, but my priority was that someone has to challange Mercedes. We all know that Mercedes has the best car, and by a big mile compared to most of the field, the only close ones were Red Bull and maybe ferrari+mclaren were near, even if not near enough. This would have meant that Red Bull would have an engine they built while learning and that would make them a tad bit slower, while Mercedes probably got faster. With Honda staying, the gap won't be too big once again.