The nature of wuxia fiction is that wulin events are at the centers of the characters' universe. Whatever the heroes' or villains' goals might be, those goals are cast as things of utmost importance: the various Heroes Conferences, the competitions between elite fighters, large wulin massacres, etc.
But how much did these events really affect society at large? Did it change the ordinary farmer or blacksmith's life that Kiu Fung was kicked out of the Beggar's Union and framed for murder...that Central Divinity Wong Chung Yeung won the First Mt. Hua Sword Tournament...that Sai Mun Chui Sheut and Yip Goo Sing dueled on the roof of the Imperial Palace in Beijing...that Lee Chum Foon killed Seung Gwoon Gum Hung?
Overall, it seems that wulin events have no impact on society at large. The only exceptions might be Kiu Fung's death (prevented war between the Liao Empire and the Sung Dynasty), Yeung Gor's killing of Mongke Khan (forestalled the Mongol conquest of southern China for another thirteen years), Gwok Jing's death (last line of defense against Mongols broken), and maybe a few others that had national or even international implications. For the most part, however, it seemed that wulin affairs mattered only to wulin members and did not affect the lives of ordinary people on a large scale much.