And I really don't know how anyone can possibly spin a 4th or 5th place as "eh, doesn't really matter in the grand scheme of things."
Honestly a lot rides on how close the top 4 are to one another--with the prevailing speculation that Warren is in third, it makes sense for her campaign to state the gap between third and fourth is huge, but that could mean a lot.
These results mostly seem good only if you're Pete or Klobuchar, since you're outperforming expectations. Warren did better than I expected, but I've already resigned myself to not getting her and it's not good enough to make he a forerunner or reverse the spiral she's been in. Sanders kind of wanted a decisive victory here since it's the setup most favorable to him and it could have established his narrative pretty strongly, but if he's close to the others... It's not bad-bad for him, but it's not as good as what was expected.
Biden in fourth or fifth is bad, but his campaign has he opportunity to recover if they address it. That placement would have ended a lot of others, but the weird situation we're in lets him try to pull it out later, I think.
Maybe the spread will differ from my expectation but this seems like an insane and largely rough night.