I think Richie can survive with short tours worldwide. Australia, Europe, Japan, Canada and South America Could have his audience in each tour. Small audiences, hopefully some arenas, but that's okay, I mean, he is 55, sings and plays pretty decent. His name can be strengthened over time as "the legendary guitarist of Bon Jovi". Also, I think it would be well received in some European festivals.

At least you can try it for a couple of years, then come back with Bon Jovi to return to bust the charts.