Disposal = Failure?

One article from Art Daily that we've meant to blog about for a while is this one on artist Michael Landy's new project, "Art Bin." Landy is accepting applications for work to be displayed in the South London Gallery and then to be disposed of. The project has its own site, which doesn't contain many more details than the article (e.g., will the works just be piled on the floor? The emphasis on the cubic space of the gallery would suggest so). As the article puts it, "Over the course of the six-week exhibition the enormous 600m³ bin will gradually fill up as people discard their art works in it, ultimately creating, in Michael Landy’s words, 'a monument to creative failure.'" But is failure the only reason to dispose of art? And what does Landy mean by "failure"? Artists, even relatively popular ones, know that much of the work they create fails to sell, and storage space is always limited. Failure to retail a work of art is indeed failure in a sense, but is that what Landy's talking about?