BMW Motorrad Motorsport is currently focusing on the Superbike World Championship, although the Forward Racing MotoGP team is using its engines in it Suter CRT chassis.
Godmayer told Motosprint that MotoGP's current path was off-putting for BMW.
"It's a complex issue. However, to put it succinctly, we can say that the technological level in MotoGP nowadays is extremely high and the investments required in order to be competitive are immense," he said.
"So, if the situation doesn't change, then BMW won't be interested in entering MotoGP. If, by contrast, the rules change..."
He feels Yamaha and Honda are to blame for MotoGP's present shape.
"I say that Honda and Yamaha are killing MotoGP," said Godmayer.
He added: "It's the truth. The Japanese have a vision of racing different from ours. All they can think of is reaching technological leadership. Their objective is to beat the rivals: if this sports war ruins the show, it doesn't matter.
"Instead, we believe that the races must be several things: a show, a business, and a way to entertain the crowd."