It IS a bad thing. No, he's not a failure but only because he FINALLY got his moment with winning the world title. He would never have been given that opportunity if Edge's career wasn't cut short by doctor's orders. Never in a million years, it was a pure sympathy push to make Edge happy because he had to retire.
Until Extreme Rules 2011, he was a complete failure, a complete, midcard, minor league failure. And I fucking love Christian but the truth is what it is. If you haven't had the world title, you're nothing, your career has no merit and I won't accept Sandow as nothing.
There are LEGENDS who have never been the WWE Champion. This attitude is the reason why all the other belts have been devalued over the years. If people didn't think like this, WWE would've never created a second World Title and handed out title reigns like candy. The IC and U.S. Titles might still be booked to mean something if people stopped thinking like this.