Is failed startup experience valuable?

I have a side project I am really passionate about. I want to quit my current job and work on it full time. My technical/engineering/code skills are mostly focused on data science/analytics and to complete this project I will need to learn a lot about web development and product management. There is a high probability I will fail but I think I am at a good time in my career for that.

I have savings that I can survive on for a year. My thinking is after 6-8 months I will have an MVP or at least a prototype. Then I can reassess and if it doesn't look like I will be able to create a viable business or raise money to scale I will have to put it on pause and look for a job.

A part of me feels that even if I fail, future employers will look at my attempt as experience. At the same time I know not all failures are created equal, it could easily look like a way to dress up unemployment.

For those who failed at startups and had to get a job after, What was your experience reentering the job market?

Could you find roles you wouldn't have otherwise been able to get without the experience you gained going out on your own? I am not keen on going back to data science/analytics I hope that I'll be able to learn skills for web development and product management along the way.

How do you fail and still have something to show for it?

Thanks!