This is a silly loss, as it sounds like it was a test procedure error and not a valuable experimental failure. But even then, how much is lost? The rocket was built on-site in a tent, welding some cheap steel together. They've got more test articles being built. The engine is probably salvageable. This is a month or two set-back at worst.
And just like when our software fails in a silly way, I'll bet you there will be new automatic tests, procedures, etc, so that this kind of error can't happen again. They'll learn, iterate, and continue to move fast (and break things).
With nearly all of their competitors, any kind of failure like this would be millions of dollars lost, months or years of setback. This fundamental difference is why SpaceX is slowly coming to dominate the industry.