It was a little deflating to watch Barao get dethroned in a fight where he looked bad more than his opponent looked good (which may be deceptive; see Jake Shields), but on the other hand it's really exciting to see what happens coming out of this. Will Barao come back and look strong again in his next fight? Can Dillashaw make other top Bantamweights look as bad as he did Barao? It'll be really interesting to see if Dillashaw/Assuncao 2 looks like a completely different fight than the first one.
On the flip side, maybe this was basically just a Rd 1 KO that dragged on for 5 rounds, but the guy was in no condition to keep fighting. We all saw what Cain did after getting KO'd be JDS. There's a lot of uncertainty at BW right now, so that's exciting.