Failure is not final if you learn lesson and keep going. Many successful business or inventions once failed but become successful when people don't give up. Failure comes with lots of valuable experiences that would be used in future to run startups. New business owners might make mistakes that will have an adverse effect on the business; this is why the failure rate is relatively high.
I am just recalling how my poultry business faced financial problems in the first year. I never knew that I could sell the fowl droppings to farmers, which would be used as manure. I also didn't know that some parts of the animal could be used for different purposes. I was busy disposing of them, and it affected my profit. After about one year, I gained more knowledge and began to make a profit.
I have no problem with everything you said, mind you I just want you to know that we are in a wild West world called crypto space, some developers intentionally come up with unfinished ideas to raise money and quit on the half way, I have seen too many of them failed this year.
They raised crazy amount of money and the product they offers isn't even going to need that much money, if crypto space is a well regulated place many of them would have been arrested and face the panel already.
This is why I don't like Trump been elected, crypto space will need a lot of cleansing after Trump reign is finally over.