Exactly. If Yahoo was such a failure, we wouldn't be talking about them. There were many other very similar companies that were founded about the same time as Yahoo. Some got acquired (including some by Google or Yahoo) and more just died, but all essentially lost the race and even those of us who were around at the time barely remember them any more.
Yahoo has survived, and made a lot of money for a lot of stakeholders over the years. I would also say that they have a better record than Google when it comes to privacy, legal entanglements, and general good open-source citizenship. Yahoo is a success story. Anyone who presents it otherwise is just putting their own lack of perspective and/or business sense on display.