Maybe it is so with the monopolized ( or duopolized if we consider Samsung) foundry today. I visited Global Foundries just before they stopped investing in smaller nodes ( and Infineon which was nearby). Listening to the profits they made and the problems they had ( and my own experiences), I realised that the complete business flow for chip manufacturing is flawed somewhere. I did not have enough motivation to look into detail at that time.

Of course, most of the big foundries would still be open, if the profits were anywhere more than 10%.