You can try to dismiss it, but at the very, very least it exposes the Trumps and their circle as a bunch of liars. Their defense in 6 weeks has gone from "no obstruction, no collusion, Comey is a leaker" to "Any one would have taken that meeting, and anyway, collusion is not illegal." They can no longer claim it was a hoax to make excuses for an "election that they should have won." While Trump still insists on calling it the "biggest witch hunt in history," it clearly is not.
You can try to tell yourself that this meeting is the sum-total of what may have gone on, but remember it was in June. There are 5 months of possible misdeeds to investigate. It is a very big deal.
Your Monty Python analogy is off. Trump's critics have not been incapacitated. In fact, with each passing day he or someone close to him puts another weapon in our hands. Like Richard Nixon said, "I gave them the sword and they rammed it through me."
If you close your eyes and click your heels three time, saying "It can't be true, It cant be true, It can't be true." when you open them you will realize you have been duped by the biggest con-man in America today.