Yeah I think people understate how large of an impact this had.
My immediate reaction to that was the "jig is up"--I argued with friends that Twitters functionality would remain intact, there'd be no major outages, etc and they couldn't understand how that'd be possible.
i think the total reduction was about 2/3 if memory serves? so 1 in 3 is that number you'd be looking at for "actually useful". heavy air quotes on that.