If you have any interest at all in mobile apps, you should read this: http://insights.pollen.vc/millionaires-index/the-millionaires-index
I’ve said for a long time that if you treat your business like a business, you can be successful in any market. The mobile app market isn’t a gold rush, the way it was in 2008 or 2009. You can’t just put any old app up on the store and expect the world to beat a golden path to your door. You have to market it, the same as you would in any other mature market.
There’s more to “marketing” than just advertising, of course. You need to make an app that people want to use. That accomplishes what it’s supposed to. That fits into the user’s life in a meaningful way. If you make something, get the attention on it, and it still doesn’t do well, you might have to accept that you didn’t make something people want.
I know this won’t be the end of the “you can’t make money in the app store” meme. But at this point, that attitude is an opportunity for you. The people saying that won’t try. If you choose your market, choose your strategy, and build something people want, you can build a real business in this industry.