Didn't get a chance to see it but it sounds totally fair. Touch gloves and fight, pretty standard. If the idiot loser didn't think the big dude wearing gloves in the ring with him was gonna punch him, he needs a more thorough head exam before he continues that line of work.
Ref shouldn't have turned his back, but "fights on" means exactly that, whether the ref is watching or not.
Then again, maybe Ortiz was waiting for someone, his Mom maybe, to tell him it's ok to fight now... I figure the large guy coming at me with his fists raised would be enough of a hint, but that's just me.