If that height didn't use properly, then it's useless. Still, weight and speed play a big role over height. There are lots of times when the taller ones struggle to keep up with the fight because their opponent is quick and versatile. I don't mean that Vargas will be like that but if Magsayo founds a way to box him at most rounds, the latter can score more points in each round while slowly crashing Vargas' defense.
Regardless if Magsayo will win via KO or Decision, a win is a win and I will never say that I'm not satisfied with his performance.
If Magsayo won via Decision especially if it's clear that he really won the match, that's a deserving win with no question.