In one sense, it is for the best. There are no more mountains to climb; had Pharoah remained in training, the challenge would be not to climb Everest, but to remain atop it. The abortive 4-year-old seasons of California Chrome and Shared Belief are fresh reminders of how difficult it is to stay on top in this game, no matter how talented a horse is.
Still, the ending of Pharoah's racing career brings a sense of regret. He is only a 3-year-old, not yet come to his full powers, and we will never see what might have been. All that is left is the memory of having witnessed greatness, and the hope that one day, the spark will be relit in his sons and daughters.