Polite people would use a different word.
But let's be honest:

My Ravelympics goal, which I knew was lofty and difficult and challenging (but that was the point); well, I failed at it. I set out to spin and knit a sweater in 17 days and I didn't accomplish that.

And that is fantastic.

The risk of failure

incites action.

Without this challenge, I would have never begun. I have been talking about knitting a sweater from my handspun for months but without this challenge, it would still just be a dream.
Not only did I commit the goal, I worked hard towards it; spinning 400 yards of beautiful yarn, swatching, designing and knitting half of a sweater in 17 days!

The risk of failure creates commitment
The feeling of true commitment to something I really want feels great! By focusing all my knitting energy on one project, I've accomplished a lot, reminded myself what I'm capable of and started creating a sweater I am SO happy with.
And that was the point: to create a garment that I'm proud of, that fits well and that feels incredible. The timeline was just a little push to do it faster and with more focus.

Failing leads to success.
Failure in the Ravelympics isn't failing at knitting and spinning. It's failing at one goal. The overall goal is (still) to knit and spin an entire (wearable) sweater and that is still well within my reach. Risking failure with the Ravelympics is leading me towards success in the overall goal.

This is just a little reminder to myself and the other failed Ravelympics Ravletes (and regular athletes, too, I guess) that what we created during the Olympics could never be a failure because we were, simply, creating.