I'm not sure of the long term impact but the immediate impact will be having all 15/16 seeds to be in the play in games so the number 1/2 teams will be facing tired legs. They want the dukes and kansas's to go far.
The most relieved fans in the world right now are Shocker fans, Now nobody's going to talk about that game thanks to the Retrievers. Also, this might really open things up for Loyola to make a deep run if they can get by Tennessee.
I watched UMBC play several times this year on ESPN3 and I honestly thought they could hang around with Virginia for a while, but I didn't think they would have too much success scoring. I was right until the beginning of the second half. 53 points against UVA in one half is unbelievable. They might lose by 30 today, but no one will ever forget what they accomplished 2 days ago.