I never thought Jiraiya's life would end like that, it can't be something else must happen. I had no idea Jiraiya was like that, he is about to die and the only thing that is going through his head is how much of a failure he was. I was expecting something along the lines of I did my best and what not but Wow. I never pictured him as a pessimist.
Jiraiya didn't really get owned, he may have lost but he put up one hell of a fight. There really wasn't much he could do, he tried his best but nothing he did seemed to have affected Pein whatsoever and there is no way you can defeat an opponent who is un-fazed by your best techniques. I guess what that rain-nin said in the beginning was true Pein is just on another level.