Key Moment: This wasn't Iker Casillas' best tournament. A poorly misplaced punch saw Alexis Sanchez's free-kick land at the feet of Aranguiz. An uncharacteristically ball-watching defense did little to close. A complete defensive meltdown wasn't just responsible for the 2-0 deficit, it was responsible for Spain's early exit.

Man of the Match: He provided the assist to Chile's opening goal. He closed the casket on the greatest generation international football has ever seen. The award, undoubtedly, belongs to Charles Aranguiz.

Lesson Learned: All great eras come to an end. Spain, however, will only be taking a break. A generation defined by the greatness of Iker Casillas, Xavi, Andrés Iniesta, David Villa and Xabi Alonso has seen its final tournament. But the 2016 Euros will see an infusion talent—one responsible for consecutive European Under-21 championships. Talents like Thiago Alcantara, Isco, Jesé and Alvaro Morata will join a new core for the next cycle, continuing Spain's ability to compete at the highest level.

Eulogies aside, Chile is also worthy of mention. Jorge Sampaoli's men have improved in recent years and should be favorites to advance beyond the Round of 16.

Up Next: Chile travels to Sao Paulo on June 23 to battle Holland for group dominance, while Spain will bow out of the 2014 World Cup in Curitiba against Australia.

Note: Credit all statistics to officially licensed data from Opta Sports (via WhoScored).