It was, but not because it did not industrialize. It did build the railroads and factories, of course, and it was at the peak of economical power by 1913, we all know that. It was a backwards country because of 99% of population still living in extreme poverty (the level of social and political inequality that noone these days can understand or accept), corruption and incompetence, which lead to defeat in war with Japan 10 years ago, and backwards political system, unable to solve challenges of the time. The Empire was doomed, and noone should cry about it.