Oh yes, they do. When you make (and recognise) your mistake, you grow. And all those past mistakes define you as an authentic person who has learned their lesson(s), instead of faking experience and smartness.

It all just depends on how you (mis)label/interprete it.

I guess it would also make sense to say: you make/recognise a mistake, you’re a fool for a day. You don’t and you’re fool for life.