Rene Richie did a great video on the Google Project Zero press release about the iPhone vulnerability. It is worth watching as it shed some interesting light what really happened and how much risk there really was for iPhone users.
Thanks for the video. He concludes the risk was small based on how the known websites using the exploits were in small, targeted regions like in China. However that doesn't really shed light on what the actual risk was because there could have been other sites as well using the exploit that Google doesn't know about. The important issue is that there was such a major exploit possible via passive means - the fact we only know of a few sites using it doesn't really shed light on what the actual impact was, nor does it mitigate the issue.
He also mentions how those sites used different exploits for other platforms as well, including Android and Windows, but that still doesn't mitigate the issue for iOS. We already knew Android and Windows are easy targets for exploits. What we didn't know until last week was that iOS is as well.
In short, I really don't see the point of his video other than to throw shade on Google and misdirect away from the fact iOS had a major exploit that's been used for several years and across multiple generations of their platform.