Weren't they accurate to about 6 feet, with an effective range not quite double that? I'll grant Gyros were a pretty neat concept, though. Shooting rockets out of a gun at someone is kinda James Bond.
Gyrojets had the same or slightly greater accuracy and power than the standard issue M1911A1....when working. They already had an inherent problem in that they did quite little damage at point blank range due to accelerating as they exited the barrel instead of exiting at their maximum velocity like regular bullets (Not the mythical "You can block the muzzle with a piece of cardboard" weak, but it probably wouldn't kill you), but it was made worse when a faulty production run of ammunition accidentally blocked one of the exhaust ports on the rocket. The rockets relied on a very careful balance to ensure gyroscopic stabilization and give them accuracy; when one of the ports was blocked, the bullet would corkscrew and land in a random location.
The concept already had some inherent issues (the prototypes could only be loaded one round at a time into a fixed magazine and the rockets were far more expensive to make than cartridges), but the faulty run of ammo only exacerbated it.