The event is ruined because an old man lost to an up and comer? You sound like one of those 80 year olds...'back in my day we had to walk up hill both ways to go to school'.
Opens up the draw though, good chance for other players.
Yes, the event is ruined. Michael Russell was the only player of note in this event. And now he's gone. Mikey needed to do well here for his points situation and he failed.
None of the other players matter at all.