Crossword Genius

A quip BDSM gone wrong is a letdown (4,5)

Ross

I believe the answer is:

damp squib

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'a letdown' is the definition.
I know nothing about this answer so I cannot tell whether it can be defined by this definition.

'a quip bdsm gone wrong' is the wordplay.
'gone wrong' indicates anagramming the letters.
'a'+'quip'+'bdsm'='aquipbdsm'
'aquipbdsm' anagrammed gives 'DAMP SQUIB'.

'is' is the link.

Can you help me to learn more?

(Other definitions for damp squib that I've seen before include "Something unsuccessful" , "It fizzles out" , "Firework that doesn't" , "Let-down" , "Unsuccessful attempt to impress, like moist firework" .)

I've seen this clue in The Independent.
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