Mouse models are useful to discard very bad ideas. There was a recent experiment to use bacteria to kill cancer https://news.ycombinator.com/item?id=46306894 They tried like 40 bacterias in vitro, then like 9 in mice, and only 1 was useful in mice and they will continue only with that, perhaps in humans. Anyway, as you suggest, there is a high chance it will fail.

Also, you can do nasty stuff to mice that would never be allowed with humans. In that experiment they injected cancer cells in mice with a bad inmune system, so they could get like 90 mice with cancer and run the experiment in a short time. No ethical committee would approve that in humans.