Hot take: There was nothing wrong with Bacon Cheddar Cheetos. Bacon and cheese is a taste combination that works every time. We know that Cheetos are supposed to taste of cheese, though, and we suppose that's why this bacon experiment failed.
In all honesty, the commercials probably didn't help the product's chances of success. For some reason, the sight of a vaguely creepy guy with a mustache shaking a packet at us didn't send us all running to the stores to buy them.