Well, it's not a total loss. To his fellow fools, a plagiarist may indeed appear to be intelligent, because how is a fool to know the difference? However to the people a plagiarist is attempting to impress, plagiarism is a complete failure; because by committing the act of plagiarism, the plagiarist has added to his catalog of defects -- now he can be scorned for bad character, which is infinitely worse than mere stupidity.
Is the moral to plagiarize from better mathematicians? Perhaps from Minsk?