The old man was lucky, the punch didn't hit him directly, otherwise you will be knock out cold by Conor. Or it could be probably a setup, we don't know. We all know that Conor is good promoting himself and we have seen him acting strange in the public, so I' not surprised by this publicity stunt.
I do not think this as a set up and the video is sold to TMZ for a huge amount and Conor McGregor will not do that to tarnish his reputation for hitting an old man for not drinking his whiskey, this is a sucker move by all means, if he wants to fight do that in the Octagon or in the gym and not go in the public and start a fight with old people and that too for not respecting his offer of free drinks. Conor McGregor admitted his fault about his altercation in the pub and these acts will not gain him many fans, even if he wants to come back to fight there are no easier fights for him, it is funny to see all his excuses about his loss against Khabib.
I do personally believe that in his 'prime' (before leaving ufc after eddie alvarez fight) he would have been a tough fight for Khabib, perhaps even win against him. His striking is amazing, no one can deny that. Khabib's striking power is really bad, he can barely KO anyone, however, Mcgregor came in really badly, not enough training, waaay too much alcohol, etc. He got destroyed, Khabib even won in striking.