At the end of the day its a fight, and this is especially true in MMA; anything can happen. So, fighters losing the odd fight isn't exactly unexpected, in fact its expected for the majority of fighters. You could count on one hand the amount of fighters that are undefeated, while taking on the top guys. Khabib obviously being the most recent, but he's very much an anomaly in the sport.
Even Conor who at one point looked unstoppable, you could say that's due to the way he fights, and Khabibs style protects him a lot more than a pure striker like Conor, and while that might be partially true, if you take a look at the other wrestlers in the sport they aren't going on massive unbeaten streaks.
Obviously, the fact that even though there are certain key factors knowing who's going to be dominant in the octagon, we can not 100% accurately predict what will be the outcome of the fight, and Khabib Nurmagomenodov being an anomaly in the game was not really what I think, if you look at all the style in the combat sports grappling is pretty dominant if the fighter knows what he is doing, saying this pretty much the style of Dagestan Wrestling may Dominate some fighters and may outbalance other style, but it will always depends on the fighters strength if he will succeed, and I am not saying that Dagestan wrestling is pretty superior in all wrestling, this is just what I think, even though Dagestan fighters have the same exact style it will always depends on the fighter.
Therefore, I don't actually believe in the hype being derailed from a single loss. If Makhachev were to fight either Oliveria or Poirier which I personally do believe its a little too soon right now, if he was to lose that doesn't automatically mean the hype behind him should be gone. Poirer, and Oliveria are literally the two main men in the division right now.
I think I am just giving example on UFC fighters hype being derailed but definitely their career still goes on, because he question if there are fighters hype being derailed not in the MMA, but other industries, I think there are people liked that and under certain circumstances that their popularity has ended.
I find as fans we can have a knee jerk reaction whenever a fighter loses a fight. In fact, this probably isn't entirely the fans fault, due to the UFC as an organisation pushing the agenda that every fight will finish a fighter if they lose, and project the winner onto bigger, and better things. Boxing also has this mentality because hype sells tickets.
In my opinion, Certainly hype is needed to make sales, and some fighters is just creating drama for people, of fans to talked about and in certain times not only fans is getting hooked with it but certain curious people even the does know about a thing about MMA or fighting being lead to the hype, I think this is a normal setting for some, I am not saying all drama is not real but I think they seen this kind of thing very popular, if you want the tickets to be sold they need to accumulated a drama just like in the WWE.
Though it was proven recently that older fighters that were deemed finished many years ago, can improve, and go on to win belts. Makhachev losing against the current top 2 in the sport isn't going to realistically derail his career. Though, for his benefit its probably best to not jump in the cage with them too soon, because in the eyes of the fans it would take away a lot of the hype, however when he starts winning again that would return right away.
Well I don't really want Makachev to be jumping inside the ring and a lion is inside to be eaten alive, but if the UFC would give a legit fight for him, why not, and I am not saying that he could win everytime he fight, because we can certainly not able to predict the outcome, but as a fan and as a person that seen a potential to counter certain style and certainly I am not comparing him to Khabib, because even though they have identical fighting style, it is still not the same, both men are not the same there are certain strength levels that we can say both men are lacking, but I am not just looking at Makachev alone, but with a certain opponent he might face, as a bettor I will surely need to look deep down not only to Makachev but for certain opponent he might face.