Yes it can, but the game is not easy to make a living from. I have experienced solid returns from MTT's but not enough to make a living from it. The money was never reliable either. But yes it is possible and people do it. Many people dream of that run where they satellite into a big MTT and make the final table. It seems to happen every year at the Aussie Millions. I knew a lady who came 4th in the main event from a $150 satellite and won $100k. She is an older lady who mostly played pub poker, which is where I knew her from, but she was a strong player and used to win those games a lot. There are a few guys who make their living playing live poker at Sydney casino.
Yes it is possible, but do you have the drive to be the top 10%?