Considering that the point of carrying a gun is self-defense, that under Calipornia's current Open Carry laws the gun must be unloaded, and that issuance of concealed carry permits is discretionary--which, in practice means that the Chief Law Enforcement Officer likes you, which often means you have made a hefty contribution to his re-election campaign--it seems to me that this setback may actually bolster the movement to get Cali's concealed carry laws fixed.
(Jim March's Equal Rights for CCW Home Page, page does not seem to have been updated in several years.
(Calguns forums, especially this FAQ/thread:Status Of California Laws FAQ - Calguns.net)
**** Yes, I know it's actually the Senate. But that would ruin the snark!