It's hard to say MySpace wasn't successful. They grew rapidly, became the largest social network in the world, and sold for $600M within a few years of being founded. That'd be a success for almost every founder.
Yes just like other companies will be successful but ultimately fail because whatever was needed to make them become the biggest and most successful wasn't there.
When it comes to digital products especially things with network effects winner normally takes all.
When it comes to digital products especially things with network effects winner normally takes all.