I had a rough first year in undergrad— what now?
Although this question may be out-of-bounds for this site... Well, "obviously", you'd want to do better in the future. True, screw-ups are not a plus, but, well, it's already on your record, so what can you do other than try to do better in the future. To give up on your ambitions would be nonsensical: if you don't try at all, sure, you won't fail, but you also cannot possibly succeed.

From my own perspective, it is very clear that many talented, motivated people in late teens and early twenties do screw up. (Not to mention older people too!) Obviously not a good thing, but, yes, quasi-ironically, people who've been through mistakes are sometimes (!) wiser and more effective than people who've magically avoided all mistakes.