First off, sad news for those who may now be unemployed. Don't wish that for anyone.
That said the superlatives are flying a bit too loosely off the tongue here.
Monarch was a middle of the road, run of the mill airline that brought nothing extra to the industry. Britannia were around flying package holidays a good many years before Monarch.
Sad another airline is going to disappear but at the end of the day it was just another airline. Nothing innovative, nothing special, certainly nothing to justify some of the lavish comments here.