Not in my world: I know more than a handful serial offline entrepreneurs. Some businesses are better suited for it than others.
Nightclubs, bars, restaurants: both self-financed and with silent partners. Both hands-on and with capable managers. I see them all the time.
The more experienced ones have excellent track records and often several businesses running at any one time: with various themes, and catering to diverse audiences. After a few years, they roll it over and sell their place as a turn key business.
Read serial/parallel entrepreneurs above.
Also: generalizations are unhelpful, there is a reason for this...
Restaurant failures (specifically the small independently owned ones) tend to be because of inexperienced owners, who often do not possess the skills required to run a successful business and do not understand the competitive aspect of the sector... Prospective owners often romanticize becoming entrepreneurs in the hospitality biz, without realizing that it is a very hard, time intensive, and hands-on job.