Hard to say. I don’t think anyone at Apple expected it to catch the world by storm like iPhone did. Or become a status symbol like AirPods did. It couldn’t; it’s in your home, so you can’t really flaunt it.
I also don’t think they were under the illusion they would have the same unit sales as Amazon Echo. Do they really need them, though? What’s wrong with Apple just making a nice speaker? Why isn’t Apple allowed to make a product that is just… fine, and not the next huge smash hit?
I actually like the HomePod. Decent speaker to quickly connect to, though still too expensive.