Oh, it's far, far worse than crashing airplanes. Imagine medical equipment suddenly going offline. Imagine 911 call centers shutting down. Imagine anyone with a pacemaker or on life support suddenly dropping dead. Imagine all forms of long-distance communication no longer being an option. Imagine power plants shutting down, leading people in colder climates to freeze to death. Imagine massive car pileups from engines and brakes suddenly shutting off. And all of that assumes that human nervous systems are not shut down by the EMP. Esoteric Happy Ending is an understatement.
To be fair, it's still better than everybody getting broken down into component parts to be used to make more nanites. Imagine being ripped apart molecule-by-molecule. At least this way, you'll end up with Fallout (with whatever withstood the EMP) and not an empty world.