It all depends on the perspective.
The Watchtower could collapse overnight and it might not even make the front page of the New York times. The world at large doesn't care about the inner workings and controversies of religious denominations unless there's some celebrity angle or general tabloid-quality scandal attached to it.
As far as the ex-JW community is concerned, this is a big deal. It brings notoriety to an issue that's been on the community's mind. The news might funnel its way through the congregations and help wake a few Witnesses up.
As for legal repercussions, I haven't been following it too closely, but it seems like the Commission has bigger fish to fry. That's been the problem, generally, with child abuse within the WT. There are always larger, better known churches with even more scandalous problems, and that removes the focus from the WT. I don't see anyone ending up in jail over this.