"No one" is the key. Is a country where the majority votes a failure?
I think your arguing on a philosophical level here, which is fine, but it's not necessarily reflective of reality.
If a candidate, like many incumbents in the US, is almost assured a victory and some of his supports don't go out to vote because they know he is a lock, is that "bad"?
There are lots of reasons people choose not to vote.
There are a lot of countries where only less that 50% of the population vote. And at this point, it's fair game to argue that democracy isn't the best way to govern a country. What's the legitimacy of government that was only chosen by, say, 20% of the population? It's practically an invitation for a coup and so, turnout is very important for any democracy. And this, of course makes turnout an essential part of measuring a democracy's success.