Poor Greg, it's a legacy he'd rather not have. Saw him interviewed about it recently and he certainly regrets it. He said that they were playing so much cricket, totally exhausted, with constant pressure from the public, press and administrators to win every game and be number one, that he had lost all perspective at the time.
Still, it's a very interesting moment in cricket history that would otherwise be just another forgotten game.
Personally, I find all the Aussie sledging much worse. The underarm bowling was a single moment of poor judgement, whereas the other is deliberate, calculated and ongoing unsportsmanlike behaviour.