TLDR: It doesn’t say anything about you.
I’ve been doing this Air Force stuff for a long long time. I’ve had countless doors slammed shut in my face. Some from bad timing, some from me not being ready yet, but most were from perception of who I was on a piece of paper. It took me years to understand how important it was to build your image of performance via your records. I have a feeling this is what happened to you where someone who doesn’t know you, took a look at who you are on a piece of paper and made a call off that. Unfortunately that is how a lot of promotions, awards, and other opportunities are judged.
If I were in your shoes I would first enjoy the holidays. Then on Jan 3rd I would have a sit down with my Commander, reviewing the entire package and asking what needed the most improvement. If it was your writing on personal statements, create a rough draft and send it to 10 people you care about and ask their honest feedback. If they tell you it looks good, tell them to look harder.
Chasing your dreams has a mixture of drive and being humble. You need to make sure you have the gas peddle all the way down while still understanding that your package can always be improved. Seeking that feedback to where people trust that you will not become defensive, upset, or ignore them is huge because that is where you are going to receive their honest thoughts which will improve your package.