Sky Sports pundit Jamie Redknapp claimed that the Magpies' performance at the beginning of the game was "the worst 20 minutes in Premier League history".
The Blues raced to a 3-0 lead within the first 17 minutes of the game as they continually carved up the Magpies defence, as highlighted by Taylor.
"It's not harsh at all," he said of the criticism towards his team. "He's seen a lot of football.
"He knows and for us – he's probably right.
"It's worse than getting kicked in the nuts. The first 20 minutes they pulled us around, they dragged us out of position and we gave them too much confidence.
"We didn't get in their faces enough.
"We hold our hands up, we accept that. We are going to take a lot of criticism but this is the Premier League.
"You have got to man up. And you have got to take it, 100%. There is no point in whinging on and making excuses.
"The eleven who were out there were 100% responsible, and are going to have to take the criticism.
"What Jamie Redknapp said about the first 20 minutes? Yes. It wasn't acceptable and we have to sort it out. That was like the Chelsea of last year, though."