Somehow this does not stike me as, "Well shit, let's just cancel the fucker!" sort of talk. Calm down. Sci-fi is a niche channel and is really only worried about ratings in its target demos. BSG is doing great in those, and that's all that matters.
Before you start feeling too secure you better look into SG-1's cancellation. It was getting roughly the same ratings I believe.
You're oversimplying things as a sort of security blanket. I'm not saying that it will get cancelled but it's not as cut and dry as you make it out either.