Probably.
History is full of famous successes who were failures first. Lots of people are giving you that advice. Famously, IBM was Thomas Watson's 38th try, and the durable lightbulb filament Edison's 162nd.
It's absolutely okay to feel despondent after a big hit, especially if it's one that took seven years of your life along the way. I've been there. It's just an awful feeling, and I commiserate as best as I'm able.
At the same time, pragmatically speaking, you really only have three options:
1. Try again
2. Try something else
3. Give up
You're not going to give up. You wouldn't be here asking if you were going to.
So the real question is, do you try again, or do you try something else, like a day job?
I don't know about your situation, and I don't know how much safety you need, but that's sort of the baseline choice, really. By what method do you dust yourself off and stand up and respond?
At 37, you'll be okay. After seven years (a fifth of your life, or a third of your adult life,) it's going to hurt real bad, and be confusing.
But life goes on. You'll be okay.
It'll be a while before you can see it that way, and that's okay too.