In MY cloning setup I use riot cubes and root tech. I typically see nice roots in 5-7 days.

In my previous attempts without rooting hormone it took up to 12 days. Remember your plant needs moisture, so if your not going to use a dome you need to lightly spray it (foilar feed) 5-7x per day. (just mist it)

Your soil should be moist, but not dripping like yours is, your asking for root rot.

Will this die? Probably - BUT you should continue to try - Because there is always a chance it will make it. I tend to all of my sick seedlings and clones until they are 100% dead, because the off chance you can bring them back, and nurture them properly, the reward is far outweighed by the risk!