How many drafts does a paper usually need before being submitted?

The first draft of my paper was, to be frank, pure horsesh*t. So I submitted a second draft, which I THOUGHT was better. I was just returned my supervisor's comments, and well, it was not.

It's not that the negative comments themselves make me feel bad, although they do. It's more that I feel like I haven't improved in crucial aspects of the paper. The comments are not about aesthetics, it's more like I am missing some key parts - the supervisor is criticising my "narrative" and the key message of the paper. He's basically saying that I'm not clearly communicating what the paper is about, and I am also not understanding some of the sources. THIS makes me feel bad and honestly part of me just wants to toss the entire paper in the bin but if I do that I won't have anything to show for my work. Is this normal at this stage? I feel this sort of stuff usually comes up very early in the process and not at the second draft.