The characters combine to paint a vivid picture: “to firmly grasp being lost and not awaken.” This structure shows that the person's state is not passive; they are actively choosing to remain in their state of error or confusion.
`执迷不悟` is a strong, negative term used to express deep frustration. It's not a light-hearted complaint.
It is almost always used as a criticism and is very direct. You would not typically use it to describe yourself unless you are reflecting on a past mistake with great regret.