Flight 12 was a relative success. Some engines failed to light but that's an unintended good test. Rockets are typically designed such that they can have a certain number of engines fail and still achieve their mission.
At this point, the entire SpaceX project is a bet on telecommunications services, specifically direct-to-satellite handheld Internet. That's the only market that will recoup the program costs.
We don't have exact figures for the current true cost of a Falcon 9 launch factoring in reuse but many think it's somewhere betweenm $10 and $20 million. Well, SpaceX has spent 100 F9 launches on Starship so far and that's how you have to look at it. Say F9 is $20M and Starship once it starts launching Starlink is $10M that's 150-300+ launches just to break even.
You might be tempted to say there are other missions for Starship but there really aren't. Satellites aren't that bug, as evidences by there being ~1 Falcon Heavy launch per year (usually for the military and/or to geostationary orbit AFAICT). You can't economically put multiple payloads in one Starship because they all have different orbital parameters.
F9 is rated for human spaceflight. It's a long road for Starship to be certified for human spaceflight. SpaceX hasn't even begun to test in-orbit refuelling yet. Gases are weird in microgravity.
F9 is the cash cow funding all this and that too might go away if Blue Origin or one of the other wannabes ever gets a reusable launch platform to commercial operation.
There are big launches like interplanetary missions but those are few and far between.
It would be fascinating if what ends up dooming SpaceX is actually Twitter.