I think that thinking about these things in terms of "failure or success" isn't very helpful. Is it a good idea? I don't know how you argue that attempting to develop more efficient and less expensive forms of mass transit is a bad idea. Will it fail? Most entrepreneurial endeavors do. However, since the hyperloop tech is open sourced there are many companies attempting to make it work, which certainly increases the odds.
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In terms of what we could learn from building it, it's certainly very valuable knowledge. But I forsee that it wont take off. It's simply too expensive and difficult compared to traditional railroads (or maglevs).
I can't help but think that the hyperloop was never meant to succeed as a new way of transportation. But it's more like a steppingstone for something else entirely.
Guess i'll have to wait and see.