Like Facebook or Uber? Both started with PHP.
No language/tech stack is going to ensure success, or have no challenges. But learning from the past is not a weakness.
What's the lesson you are learning from?
The lesson I see is that any language, even PHP, will give you success if you "build something people want".
I read lots of startup "shutdown" stories - and I've not read one that mentioned the choice of "PHP" (or any language) as the reason for shutting down.
So if your comfortable with PHP - punch out what you need to get started...
Is it suitable for EVERY application? No. But then again, nothing is a one-size-fits-all solution for all problems.