It wasn't mismanaged at all. Neither Intel or Micron could make it cost competitive. Optane had its shining moment when DRAM and NAND ( both are commodities like ) skyrocketed 3x the price, at one point making Samsung the most profitable company even surpassing Apple. There were roadmaps for power, reliability, performance and density improvement, literally everything except cost. Micron wasn't even the cheer leader, they were only happy to play along with Intel because Intel made the commitment to buy enough capacity for Micron to sustain the business.
And Optane could barely compete when DRAM and NAND price were at its peak, making zero profits on most of its revenue. Imagine when DRAM and NAND are back to normal.
The future of memory is either extremely low power on Mobile SoC or Ultra High Bandwidth in the server with 128 Cores. Both of these doesn't fit into Optane Roadmap.
The market is so small that despite Intel was giving away its optane product and selling it at zero margin they still couldn't fill the minimum orders commitment to Micron and had to paid its penalty.