Personally I do believe there is money to be made. It all depends on on how hard one wants to work and what he is attempting to sell whether it is a product or a service.
In this line of work/hobby I think that there are so many lures that look and act so similar that many are just re-inventing the wheel. I would also guess that many are of us here doing this not necessarily to make money but to build something with pride and see that it actually catches fish... I mean how fun and cool is that?!?!?! Yes and true is the fact that if it does become a business it could actually take the fun out of fishing.
With the time that I have thought about how to improve the design of my lure and how to mass produce but still be hand crafted, I could have bought a Burger King...at work, when the Mrs. is "talking at me":whistle:(don't tell her that.) In the shower, on the throne etc...
Hello my name is "Goonsdad" and I have a problem... sorry to ramble