mining is still profitable - yet not that sort it was a year ago, but still profit.
anyone having a rig, which already paid for itself and reasonable price for electricity has little reason to turn it off. In our case, we pay ~0.14ct/kwh for our testrigs in our office and those rigs making 130-150% of electricity daily (means we earn 50% more than what we pay for mining electricity). For us it literally pays for the additional electricity (+basic charge) we use in the office environment and still have a little extra for coffee and such stuff.
So - given, the rigs already paid itself - they do earn money. Not enough for a lambo but at least they can cover other costs of your daily life. Using a proper software you don't even move a finger for that, beside exchanging to fiat for paying electricity.
Buying new rigs? Hard to judge. But still a better investment than photovoltaic for example (which needs much longer to hit ROI - but with less risk)
The rigs have paid back for themselves thankfully but what my colleagues did is that they have left a lot of cryptos untouched and they do not want to sell now and are waiting for a better time. I told them that what they are doing seems just about right so we are waiting together.
My small home rig I have it on mining X16R algorithm as it is the one giving me the better results compared to any other algorithm with Nvidia cards.