I agree with the consensus posted so far here:
1.) CBB is a marathon not a sprint, and a true road loss (even a blowout one) in November does not make or break a season
2.) UK played really well last night and is probably a contender... we probably still lose if they played average, but we wouldn't have lost by 20+.
3.) The two biggest concerns going forward (which many of us identified even before this game) are the lack of big man depth (since this won't be the last game Norchad gets in foul trouble this year), and Pack's inability to effectively play PG.
I think the second one is easier to at least partially solve, with Bensley running primary point guard, and possibly George occasionally running it for a change of pace, and letting Pack be that secondary ball-handler or off-ball guard where he is more effective.
Unfortunately the big man depth issue is a function of the roster (it was also an issue last year) and thus is much harder to fix. Casey still seems lost, and Nwoko is very raw and the game seems too fast for him at the moment (but I have not lost hope he could be a piece at some point).
The one positive from the game is that George/Watson looked like players that could actually contribute, and fortunately given their sizes and skillsets they can slide in at a lot of positions (George 1-3 and Watson 2-4).