You have to do the math on the games. In order to be profitable you have to place 6/10 times. (%50+)
I think that it is reasonable to assume that it is profitable considering that the player is decent at SnG's.
I have played a couple of times, and from what I have made from them is this:
You have to play aggressive to get the chips. If you keep waiting for you hand, you will never get enough chips and you will be battling to stay alive at the end.