College football is based on hope. Until this game, there really wasn't any reason for hope. The offense looked incoherent and the defense couldn't budge from very good. MSU had improved vastly. OSU hadn't lost in nearly two seasons.
Now Michigan will return the majority of an offensive line that didn't totally suck today. It gets some play-immediately talent to drive the defense into potentially elite status. It retains its improving quarterback, running backs who performed much better down the stretch, and thank-you-God Funchess.
You don't celebrate the loss. You feel relief that this may not be unbearable for another full season.