UKIP didn't stand in most places hence they were going to lose seats whatever happened. A lot of their councilors became Independents and are amongst the 'others' who had a very good night.
Fair point about Conservative still being the majority, but to compare them against Lib Dems, yesterday they had nearly 7x more seats so only having just over 2x today (at the moment at least) is still a huge swing in politics.