Failed the IQ test
Running a successful software business is a supreme test of practical intelligence. The potential added value of software is immense - after all, hardware does literally nothing but run software, so without software it is nothing but a bunch of rather large doorstops and boat anchors.
So the question whether a given corporation can make money out of selling the useful part of computers is a bit pointed. Obviously, HP cannot. It is in good company, however; only a tiny fraction of those who set out to sell software succeed in the long run (i.e. over 8-10 years).