The Saints never looked in the contest after a slow start at the SCG and trailed by 32 points at the first break before going on to lose by 71 points.
In amongst all the gloom however, Riewoldt stood out. The 32-year-old finished the day with three goals, 11 marks and had 20 possessions playing with little support up forward.
Richardson said Riewoldt, who was often outnumbered as the team went to a five-man forward line in a bid to quell the Swans' onslaught, set a great example for a young squad rebuilding for the future.
"He is in a really good space with his body. He has been able to train much more often this year than last, so that's a real positive," Richardson said.
"So as long as his body holds up, and he still has the ambition and burning desire to compete and want to play, then we saw today that he still adds enormous value.
"It's his leadership that has been really impressive to me in terms of supporting the program."
The Saints opened the scoring when Riewoldt, who is contracted for 2015, kicked truly from 50 metres out after three minutes.
However, the Swans piled on 13 of the next 14 goals to move back to the top of the ladder and leave St Kilda anchored at the bottom.
Richardson said the club has played 41 players this season, and while the younger members of the squad have made some progress, there was still more work to do.
"The players have embraced what we have asked of them from a training perspective and they are developing and growing in that facet, but it hasn't transferred with respect to consistency yet," Richardson said.
"The journey that we are on is one of rebuilding and growing and developing, and there will be opportunities for young players to continue to build their game and win trust of their teammates and their coaches."
St Kilda faces Richmond and Adelaide in its final two matches of the season.