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No doubt money can be made. I said earlier that I'm sure we could make one that can at least pay the bills (ie is profitable). As you point out though, I don't have any particular passion for RPIs over any other sort of MUD though, so I wouldn't choose to have an RPI made when I don't believe it is likely to be nearly as profitable as another choice.
Also, capital isn't really required as long as you can put in sweat equity. I didn't have any capital when initially starting Achaea (which grew into Iron Realms), for instance. I did have a lot of free time I could dedicate to working on the game though.
--matt
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