This post is missing some numbers to put the size of Quibi's failure in context. "Quibi spent over $1 billion on commissioning original content in its first year, totalling 8,500 short-form episodes and including over 175 shows." according to https://en.wikipedia.org/wiki/Quibi#Content. This is a cost of about $10k/minute.

(For comparison, SpaceX spent ~$85m (https://craft.co/spacex/funding-rounds) to blow up three rockets and launch a fourth one into orbit.)

Quibi's failure is on the same level as Theranos & Magic Leap given the amount that was spent. Quibi might not be a scam like the other two, but it's strange that they spent so much money before they had any users nor revenue. The most important lesson here is probably that launching & iterating will result in better outcomes than a giant investment on a speculative product.