It is a hard thing to digest.
There's no denying the Iranian government are terrible people. They couldn't be permitted to get a nuclear weapon. I think everyone agrees on that.
Operation Midnight Hammer clearly didn't work, or didn't work effectively enough. I think everyone agrees with that, too, subject to what I said below.
The Trump administration apparently thought that what would work in Venezuela would work in Iran, and that has not happened. There also did not seem to be an acceptance by Hegseth that the Iranians would indeed close the Strait of Hormuz. When you look at photos for the terrain, it is hard to think why that would not happen. On the Iranian side of the Strait, there are enormous mountains. Very easy to hide people with RPGs.
No deal happened overnight my time (it is Monday morning now). The longer that the Iranians can hold out to November, the better deal that they get, I'd guess. The Iranians said a deal wouldn't happen yesterday but was possible this week.
There is always the possibility that this had weapons program, and was very strategic and orientated towards China. Venezuela and Iran supply China with most of its oil. China with no oil = East Asian regional stability.
I keep reading that even if the Strait of Hormuz opens tomorrow, it will be a year before things go back to normal, because of damage to and shutdowns of infrastructure, and the backlog of shipping. So, higher prices for petroleum for a long time.