DOES NOT Indicate that the species was a failure. 99.99%+ of all species that have ever lived on earth are extinct. It is an extremely natural phenomenon that occurs; even the hardiest and most adaptable species become extinct sooner or later (excluding maybe horseshoe crabs lol, those things can eat anything and live in zero oxygen oceans, why they've been around for 400+ million years).
The average species only persists for 4 million years (likely shorter, on average, for terrestrial animals due to more restrictive habitat and resources). Although even 1 million years doesn't seem like a very long time on paper, it is still a huge vastness of time (just see how much continents have moved in a few dozen million years).
To attempt to better comprehend 1 million years, here is a webpage displaying 1 million dots (works best if zoomed in all the way, can scroll to the right too):