There is money to be made, just not off ads. Instagram has content without paying people. It just depends on how the creator is financing themselves. Paid sponsorships? Is it in support of something else (Patreon, web store, etc)? There is no money to be made off ads and I support that. But there is money to be made, but you need a following for it to be worthwhile. It'd be interesting if someone created an app that allows dual posting to YouTube and PeerTube, or posting to PixelFed & Instagram at the same time. Once they start getting followers on those other platforms, there are less intrusive methods to monetize it.