They still may hit the opposition benches depending on how the absentee ballots are and who the Greens prop up if a minority, but agree it was hardly a massive loss.  Certainly not like past government changes such as 1972, 1975, 1991 or specially 2001 where the governing party got clobbered.  Heck even compared to the last federal election the losses were pretty minor.  It would have been akin to the Conservatives last federal election dropping 20 seats, a loss outright, but not massive.