No, no, no, that's not how it happened at all. Precocious children have never been afforded that much influence and Emperors, then as now are largely unafflicted by shame.
And it's a good thing too - why, if the story had gone the way Anderson had it, neither I nor any of the men of the town would have our jobs at the Magic Cloth factory
You do realise that the trade in Magic Cloth supports all the world's major economies now, don't you?
Nor would the aristocracy look half so stylish, sashaying hither and thon in the glorious altogether, applauded by the taste-makers and notably contemptuous of child-like observation.