First, stop beating yourself up, there’s nothing wrong with you. This is just one school, and their decision has nothing to do with your worth. I know someone who was rejected Stanford EA and went on to be blazingly happy at an Ivy that was a better fit for him, anyway–he was just as miserable and self-doubting as you, believe me. Give yourself a little time to mourn, but then find some schools–there are so many great ones!–that will be great for you, and think of them, imagine yourself at them, let the vision of yourself at that other place fade rather than cloud your new image.
Before you freak out about your application, have some other people read your essays. You’ll have to write some new ones anyway, probably, and perhaps the new ones will seem inspired enough to dump the commonapp essay, but don’t panic.
And yes, make sure you have a range of schools on your list. Don’t give up on reaches, but don’t limit yourself to them.
Good luck! This was just a first swing of the bat; you get several more, you know.