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A lot of people/companies that use it do it not to directly make money, but for productivity gains and automation that saves time or money or finding issues they didn't know they had before other people do.
It's like saying "what if there was no profit from using this chainsaw over a two person bow saw to cut down a tree." I am not directly profiting off of the chainsaw, but it saves me paying a person and allows me to be more efficient.
The only people "making money" from AI are the companies hosting it, and there are plenty of local models you can run instead, they just might not be as good/scaleable yet.