Crossword Genius

Disappointment as magician's debut is defined by assorted bad quips (4,5)

Ross

I believe the answer is:

damp squib

I'm a little stuck... Click here to teach me more about this clue!

'disappointment' is the definition.
(a damp squib is something underwhelming)

'magician's debut is defined by assorted bad quips' is the wordplay.
I cannot quite see how this works, but
an anagram of 'quips' is 'psqui' which is located in the answer.
This explanation may well be incorrect...

'as' acts as a link.

Can you help me to learn more?

(Other definitions for damp squib that I've seen before include "Something unsuccessful" , "Firework that doesn't" , "Unsuccessful attempt to impress - firework won't ignite?" , "Anticlimax" , "Let-down" .)

I've seen this clue in The Independent.
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