Why Cardano failed?

Could you please explain in detail why Cardano has seemingly failed to meet its expectations? Is it due to technological issues, a lack of market demand, or perhaps challenges with its governance structure? Has the project failed to keep up with the rapid advancements in the crypto space? Or is it simply a case of poor marketing and community engagement? I'm curious to understand the underlying reasons behind Cardano's apparent struggles and whether there's any hope for a turnaround in the future.