Ammonia borane H3N−BH3 (AB) was re-discovered, in the 2000s, to play an important role in the developing hydrogen economy, but it has seemingly failed; at best it has lagged behind. The present review aims at analyzing, in the context of more than 300 articles, the reasons why AB gives a sense that it has failed as an anodic fuel, a liquid-state hydrogen carrier and a solid hydrogen carrier. The key issues AB faces and the key challenges ahead it has to address (i.e., those hindering its technological deployment) have been identified and itemized. The reality is that preventable errors have been made. First, some critical issues have been underestimated and thereby understudied, whereas others have been disproportionally considered. Second, the potential of AB has been overestimated, and there has been an undoubted lack of realistic and practical vision of it. Third, the competition in the field is severe, with more promising and cheaper hydrides in front of AB. Fourth, AB has been confined to lab benches, and consequently its technological readiness level has remained low. This is discussed in detail herein.