Well, this is just one candidate, but who has either fought? Nobody. I don't think it stacks up to the rest this year based on a few factors. For one, Eudy Bernardo is currently world ranked at #327 (per BoxRec) in the Lightweight division after he was KO'ed by Menard. Menard himself is still a prospect and currently ranked just within the Top 50 in the world in the division at #49. If you look at all of The Ring's "KO of the Year" award recipients from '89 on, they all have at least either fought in major title eliminators, been contenders themselves, have fought name opponents, or have fought at least someone with a name that had at the time. Most of them were either current or former world titleholders.
The Ring needs to publish (or republish) the criteria that their writers are using to decide who receives this annual award in the first place. It'll always be subjective but at least it'd give us a better idea of not just what they're weighing but also their order of importance; brutality, comebacks, surprise factor (upsets & shockers), "picture perfect" or near aesthetics as far as execution & technique, level of competition, etc.