It was a few years ago now that my passport was nicked the evening before we were due to fly out of London. Had it in a shirt pocket (yes I know, foolish but my first time out in the bigger world) returning from the BA offices in the city after sorting out seats for our family group of 5 rather than leave it to pot luck at the airport (no online checkin back then).
Rang OZ overnight and the next being a working day was directed to the High Commission at opening time (1oam?). Had to obtain photos etc, told to return at 2pm and was issued a 1 year temporary passport. I was told that if I applied for a new passport within 12 months, with all the full doco, then I would get another 9 years without further cost. Rules may have changed since, but the HC staff saved my family from flying home without me that day.
As I said at the start, it was a good few years ago....
As for embassy staff being available 24/7 on the off chance, I don't believe that is reasonable. A lot of people try to put them down as just "public servants", but many have a very tough time trying to obtain support for those who find themselves on the wrong side of the law, and in places where bombs go off with monotonous regularity and shots are periodically fired. I know a couple who were on a posting to country where there was a revolution, tanks in the square outside, no fresh food for weeks for their children etc. This may not be the experience of all, but I do not like people taking potshots out of ignorance.
Instead, this needs to be yet another lesson to travellers of the risks they face in a foreign country if they let their guard down.