Realizing no "I" is - as some folks say - in many ways the final defeat.
Our search for comfort and resolution in content has come to an end.
And after having passed through the gate, there is the realization that no-one is there to take credit for it. There is just what is, largely the same content as before, but no segment of this - not the sensations, feelings, emotions, thoughts, attention or awareness, nor any combination of all these - has any "I" inherent in it. There is just what is that awakened to its own nature, and this what is is not different or separate from anything.
So there is a complete defeat in terms of searching for a resolution in content. And there is a complete defeat for any "I" trying to gain or attain something. That "I" is revealed as a figment of the imagination, although it seemed so real at the time.