Very interesting to see the luggage "escape" the baggage bin.
As to the theory of the AKE/C "exploding" due to the rapid pressure change, very unlikely. Bins aren't designed as pressure vessels. If you've ever seen one, they have a "curtain" on the front, this would be the failure point, and I can't really see it failing in an explosive manner.
I'm not one to speculate, but I wonder if the origin of the problem began in that bin ? Shouldn't be too difficult to tell as it's there to be examined.
Also looking at the close-up picture, has the cargo floor collapsed ?? Seems like the bags are very low in the hole, or is that a visual effect of them being outside of the hold and in the fairing ?