This meme, usually expressed as a still from 'The Simpsons' with Bart Simpson holding an "At Least You Tried" cake, is a more sophisticated variant of "FAIL." It's used when, instead of utterly falling on his face, the subject has done something in the neighborhood of what he was attempting—but simply sucked at it. Generally posted as a response to a person who has said something dumb or misguided.
Dude with aluminum pan on head during hail storm nearly obliterated by lightning
What an electric moment.
American dude trolls French Twitter haters who think he’s a famous rapper
A fantastic case of mistaken identity.