Somebody spent four thousand dollars, got two leads, and concluded the channel does not work. The channel worked exactly as it always does. The arithmetic was never going to add up, and it could have been checked in ten minutes.
Cost per click, divided by conversion rate, gives you cost per lead. Multiply by how many leads it takes to make a sale and compare with what a customer is worth. If that comparison fails, no amount of optimisation rescues it.
It puts you in front of people already searching for what you sell. If nobody searches for your thing, there is nothing to buy, and the money belongs somewhere that creates demand instead.
In a large controlled experiment on their own account, eBay found that turning off branded search ads cost them very little traffic, because most of it arrived through the free listing instead. It is one company and one context, and it is still the most rigorous public test of the question anyone has run.
High customer value, a clear buying intent people type into a search box, and a page that can convert. When those three line up, paid search is often the fastest channel there is, and the honest version of this page is that most of the businesses reading it do not have all three.
This is teaching material and our own reading of public documentation, not advice for your specific account. Check anything important with your own specialist before you act on it.
Run the calculator, then tell us what it showed. We reply with what to fix first and why. No call, no pitch.