I assume "amount to nothing" refers to someone incompetent, but is it a common phrase? If so, could you please tell me some examples?

Native speaker’s answer
Rebecca
Yes, that's right! It means someone or something won't succeed, have good results, or won't become anything useful in life. Ex: The computer crashed and we lost the files. All that work we did amounted to nothing! Ex: My teacher once told me I'd amount to nothing. I proved him wrong. Ex: Don't worry Abbie! This work won't amount to nothing. You can still learn from your failure.