Internet slang for something that is simultaneously a failure and wildly entertaining because of it. The '-tastic' suffix transforms a simple 'fail' into something worth celebrating — a glorious, almost admirable disaster. Failtastic moments are perfect for compilation videos: the baking that collapses, the stunt that goes gloriously wrong, the autocorrect that derails an entire conversation. It's failure you can't help but enjoy.
That whole launch event was failtastic — the demo crashed, the CEO mispronounced his own product, and the balloons didn't drop.
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(slang) Amusing while also a failure.
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