I think jnorthrop hits on a really important point. To him, the companies are failures because they never grew into more profitable companies.

For the owners, they may be wild successes because they pay the bills and allow them to do something they enjoy. Or travel, or whatever else they want to do with their lifestyle business.

Neither opinion is right or wrong, just depends on your perspective. The only "absolute" failures are arguably the ones that have gone completely out of business.