"fail"
I think it depends on the definition of success. If you define success as introducing a product that enthusiast shooters desire, yep a fail. If you define success in terms of commercial success, Glock will surely sell everyone they can make, and have enormous back orders, just as they do for many of their products.
I am actually excited about this, and not because I want a .380. It takes very little imagination to see the follow-on single stack 9mm, and maybe larger single stack pistols. Between this, and the later in 2014 rumored G17 and 19 sized .22lr pistols, Glock appears to be back in the developing new stuff game, after a few years where a G4 Glock 32 or G30S was their SHOT announcement.