Some people falsely think this means that your type 2 diabetes has progressed to type 1, but that's not true - it is still type 2, just more severe. Type 1 is a completely different disease, but with some similar symptoms.
I quite understand the "personal failure" part of this. You inject insulin if the diet/exercise/drugs weren't good enough to stop the disease progressing.
However it should also be noted that a decent number of people do actually develop type 1 diabetes late in life. Typically they will be misdiagnosed with type 2 diabetes, because doctors tend to assume that diabetes late in life must be type 2. If this happens, a progression on to insulin injections is nigh-inevitable, regardless of how much diet/exercise/drugs they have. There are a few tests that can help distinguish these patients - firstly they tend to be thin, but secondly the auto-antibodies that caused the destruction of the beta cells can often be detected in their blood.