Google Mobilegeddon - Mobile First Indexing - The Conversation Continues

Did the sky fall when Mobilegeddon was launched?

Mobilegeddon hit the internet April 21, 2016. The months leading up to the launch, Business Owners and Search Engine Marketers were worried that the sky was falling and many scrambled to convert websites to be responsive /mobile friendly as business directory listings and ranking became big concerns. Websites that had great organic settings and were first in the search listings did not want to lose their placement and were working diligently to maintain their rankings.
Based on observations of websites across the internet, we saw inconsistencies after Mobilegeddon.  Companies that had good rankings with non-Mobile Friendly websites, kept their overall rankings, while sites that had been frantically converted and punched up for the Mobilegeddon conversion had the  exact opposite  happen.  Essentially, extremely similar websites had dramatically different results -some websites traffic soured, others slipped down in the listings while still others remained the same.
NOTE: Some of the sites had the exact targeted keywords, exact amount of content and were coded the same way, YET had major inconsistency in the results.   In the same industry, a website that was perfectly optimized as if it was 2005, took the number one spot both in mobile and desktop. The site was not by any stretch of the imagination Mobile Friendly or Responsive, containing tons of links and content stuffed on to the Homepage, as well as meta tags longer than the bible and title tags of repeated keywords longer than the equator.