Why Did Norwegian Fail?

British and American Incompetence and Diversity

Although Norwegian Air Shuttle has emerged from bankruptcy, it is now a shell of its former self, with all long-haul routes gone, and with a much more limited network in Europe, the Nordics and even Norway.

Mainstream explanation is that Norwegian was poorly managed, a bad idea, and meant to fail. However, this was not the case at all. So, what happened?