Is EOS a failed project?

Is EOS truly a failed project? Or does it still have the potential to rebound and achieve its initial ambitions? What challenges has the project faced that might have led to its current state? Are there any signs of recovery or progress within the EOS ecosystem? How does it compare to other blockchain projects in terms of scalability, security, and adoption? Could EOS still become a viable platform for decentralized applications and smart contracts? Or has it already fallen behind its competitors? These are the questions that linger in the minds of many crypto enthusiasts as they assess the fate of EOS.