It was reported on twitter and in this blog post that "pool queue is full" errors were delivered to users during the traffic spike associated with Prince's death. This is not expected or acceptable.
The poolcounter log showed a spike in "queue full" errors between 17:12 and 17:32. Corresponding with this, there was a spike in pcache.miss.revid.
So my theory is that this was due to https://gerrit.wikimedia.org/r/#/c/122847/ , which causes parser cache entries to be treated as expired even if $useOutdated = true. Perhaps PoolCounter queue overflow was at fault in T48014, but if so, that bug should probably be fixed some other way. The point of $useOutdated is to keep the site up during a news event, characterised by high edit rate and exceptionally high traffic to a single article, there's no point in retaining the feature if that goal is not met.