Absolutely trying out and not getting is a valuable life lesson. I remember sooooo much more the time I tried out for middle school cheerleading and tanked, applying to be a British Marshal scholar in college only to be told they don't accept "soft sciences" and applying to jobs I didn't get. I've forgotten much of the did-win's.
And frankly, as someone who was in plays during middle/high school/and community theater...the best times I ever had was being in the ensemble. More time to hang around and have fun! Being the lead isn't all it's cracked up to be IMO.
