What you should have been doing, instead of telling her the comforting lie that the world operates on merit and this is all that matters while nudging her towards tying all her feelings of self-worth to this, is helping her build resilience so that she doesn't end up wallowing in despair after a minor career setback.
That you've cancelled Christmas to collectively endure some sort of misery spiral instead obviously isn't going to help either. What on earth are you thinking?
She's learned this harsh life lesson that the world is unfair later rather than sooner, but she has a long life and career ahead of her. Not being able to get the type of job she wants, for a little while at least, isn't the end of the world.
For what it's worth, my company, a medium-sized business that operates in the cybersecurity space, is stil actively hiring junior staff. Many other companies we work with and compete with are too. Perhaps she needs to cast her net wider than wherever she's currently looking.