I checked UFC's P4P list and it was amazing to see Merab as number 2 P4P fighter. I was also thinking that but I don't think that one loss will contribute to that. If Islam loses to JDM and Merab wins against Coby, then I'm sure Merab will become the number one P4P fighter but just one loss won't change much. When Volk lost against Islam for the first time, he was still number one P4P.
Jon Jones is Dana White's BF, so don't expect him to move down. By the way, did this guy retire?
The P4P ranking doesn't hold much weight; it's highly subjective. And I believe Dana White has no influence over it, as it's decided by a voting panel made up of mma journalists.
I don't have a problem with Merab being ranked 2nd, he deserved it, mostly by defeating Umar, who was the toughest possible opponent in the division, the 2nd win against O'Malley was just a cherry on top.
O'Malley dropped out of the ranking entirely and Tsarukyan is in at the 15th place.
I just watched face-offs and realised how much taller Usman is compared to Buckley. I checked their Wiki stats, and apparently there's a 10cm height difference between them. That makes the x3.0 odds for Usman even more attractive. Although their reach is said to be exactly the same, so not sure if the height itself is actually that much of an advantage. It still could be i.e. when it comes to kicks etc.