It's only in the last couple of years I have realised that was both nonsense and damaging. It led to me not taking advantage of opportunitues and settling for the easy option, nearly every time. I then arrogantly assumed that my failures were not my fault, when they really were. Ah well, at least I have learned.
It isn't nonsense though.
If everyone was motivated and tried their hardest and attempted to take all the opportunities given to them, most of them would still fail, because the entire global economy just would not work.
I agree it is damaging in one sense (in that it stopped you from trying), but you trying your hardest most likely would have led you to 'failure' anyway.
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