I don't think that it's failure in itself that is being praised, it's more like success is not encouraged in this country.
Remember Susan Boyle winning that talent contest years ago? X factor or some such nonsense? She was catapulted from obscurity to international fame almost overnight. Then the tabloids turned on her and she became vilified, ridiculed and mocked by the very people who helped start her journey to fame and fortune.
Build 'em up, knock 'em down seems to be the British media's mantra.