The Cybertruck, or what it should have been, was never meant to be an entry-level truck like the Slate, and the market for trucks clearly shows people are wanting to spent money on big trucks.
Ford gambled they could build a BEV truck like an F150 and make it affordable enough to attract their normal buyers. Turns out that wasn’t possible.
I’m not sure I see why one failure was better than the other.
Turns out F150 Lightning was not the winning strategy.
Keep in mind that this wasn't a truck designed to be an EV from the ground up, it's merely an adaptation of the gas-powered F150. What Tesla could have brought to the table was an EV-native truck. The Cybertruck is more or less that, but the goofy design is probably what killed it.