Ehhh, I think you're really glossing over Amazon's failures here; they've tried to get into some markets and gotten pretty well demolished. If they've learned anything from those failures, it certainly isn't obvious.
They are certainly hit or miss on product design but their execution entering markets has been a high successful formula. Razor thin margins until the competition bleeds to death. I would like to understand examples of where they failed there?
I will also grant you that they do take a big of a 'see what sticks to the wall' approach to innovation. But do not mistake rapid iteration as a singular 'failure'
1) Mobile phones with the Fire phone - don't think this one requires any explanation.
2) Handmade goods with Amazon Handmade - Etsy's doing better than ever.
3) Travel with Destinations - don't think they've even tried to re-enter this market.
I'm sure I could find more, but we tend not to remember a company's failures (unless they're spectacular) as much as successes.