@helimir brought up such a great point in her tags on this post
The topic of the glory of failure in Tolkien's work is a very interesting one.
In fact, most endeavors end up in failure.
Whether it's Frodo failing to complete his mission, Smeagol failing to free himself of the ring & Gollum, Boromir failing to save the hobbits (or Gondor), the Noldor failing to defeat Melkor, Fëanor & the Fëanorians failing to take their revenge and (for most of them) their Silmarils, Maedhros failing to escape his doom, Fingolfin failing to defeat Melkor, the whole Nirnaeth, etc...
They all fail. But the failure is so epic. So spectacular, there is such a grandeur, such valor & prowess, such tragic beauty, such tales, dare I say, such grace to their failure that could never be found in victory.
They're all still hailed as heroes. (Or at worst, tragic fallen heroes or anti-heroes.)
Whether it's Frodo managing to keep his soul if not his peace & happiness & old life for the mercy & pity & kindness he once showed, whether it's Smeagol unintentionally destroying what destroyed him & saving Frodo's soul, Boromir regaining his honor, Fingolfin leaving a lasting scar on Melkor, Maedhros' true nature finally showing itself after so long in his last moment & expressing such deep shame & regret by killing himself when the Silmarils judged him evil, Maglor's good nature shining through even in his worst moments when he decided to raise the half-elven twins & passed down the best of himself still remained to him to them & them growing up to become such great people, & eventually his good nature showing shame & regret by condemning himself to be forever separated from people & singing songs of regret...as @helimir beautifully expressed, if it's not outright a redemption arc, it at least feels like it. Their struggles mattered, but even more than that, their struggles were what mattered.
Even in things like Nirnaeth that were nothing but catastrophes, they're such beautiful, epic, spectacular catastrophes.
Really, how many endeavors truly result in success?
They made an effort, & therefore, they left an impact. & for that, they went down in history. If not as heroes then at least as tragic figures.
They dreamed, they hoped, they willed, they fought, they tried, they were here.
& that mattered.