Well, this is quite embarrassing for Apple. But, bugs happen, and they are everywhere, it's a fact of life. What's important to notice is response to bugs, time to recovery. The troubling part, if you read up on this particular bug, is that they knew about it for at least a week before the responded, which is bad.
It also highlights another troubling facet of iOS - it's a monolyth. Everything is bundled up together and distributed as a single, compact whole. It stems from the fact that Apple controls the whole vertical, from HW to apps. But that puts them in an awkward position of having to release a whole OS update to address every single bug and feature. OS updates cannot be fired off quickly, they need lead time to run all the tests on all different configurations that are out there. I'm guessing this will become more and more of a problem for Apple as time goes on.
Android was in that position many years ago, but it was much more painful for Google since they controlled only the OS, not the HW, nor the distribution. Because of that Google invested tremendous amount of effort in compartmentalising Android and now the base OS (part that phone manufacturers need to bolt onto the hardware) is bare-bones and minimal. Everything else is separate, updatable and installable separately. Keyboard? Installable app. Launcher and home screen? Installable app. Facetime equivalent (Google Duo)? Installable app. The list goes on and on. They went so far as to separate many of the core functionalities of the OS into a separate layer (Google Play services) which can be updated and installed independently of the core OS. So, all location services, notification services, system UI widgets, webview, all of those can be updated and fixed independently of all the other components. That gives them tremendous agility. I believe Apple will have to move in that direction eventually, sooner rather than later.