Seeing Guy crash at Dorans brought Phil's crash back to me too. He is incredibly lucky.
However, I do NOT think that one big crash should be the end of your Island racing as suggested.
Hailwood crashed on the Saturday morning of the day he won the Formula One in 1978.
Steve Hislop had a HUGE crash at Quarry Bends, and went on to win the same week. McCallen crashed at Bungalow and finished runner up later in the week. Even Joey slipped off, admittedly it was only Sulby Bridge. Can still hurt though. William Dunlop has been off at the Les Graham Memorial, and Gary Johnson has had two fairly big crashes, above Ramsey Hairpin, and at Guthrie's.
I had a big "off" at Lambfell in 1990, but came back and won the Formula One three years later. We are racers, crashes DO happen.
However, there must be questions asked about Guy's Mountain Course licence validity. I wasn't aware they were still able to make allowances as they have in the past.