Part Of One Of Many Efforts That Failed
The question isn't failure or success--being a private industry is no guarantee of success--it's what we're getting for the money spent.
An exercise for the student: add up all the money spent by EVERY failed private launch system, and compare it to what NASA spent on, say, the X-33.
Rotary Rocket burned about thirty million in its efforts. Three years: facilities, hardware, salaries, and overhead. What does NASA get for thirty million lately? Hint: NASA discards surplus equipment worth more than this each year.