Basically, when the exploding tyre debris hit the wing, it caused a shockwave. The wing fuel tank was full. Jet fuel is not compressible. That shockwave had nowhere to go beyond causing a hole in the wing.
If it hasn’t done that, then sure, engine number 1 would still have ingested FOD and the undercarriage would still have been fucked, but engine 2 wouldn’t have died (it incorrectly reported an engine fire and was shut down), and engine 1 was starting to recover from breathing FOD. They’d have had power to climb, go round, dump fuel, and return to the runway.
It would have been a VERY dangerous landing: the port gear was screwed, but they’d have had a chance.