Mining profitability is largely dependent on the electricity cost. It is not a get rich quick deal ( unless the coins that you are mining moon in the next few months ). If you are methodical about what you are doing, patient and in for the long term. it will eventually be profitable ( might take months or years depending on the market and your set-up ). Yes I do agree that mining smaller altcoins is a better strategy if you are trying to venture into mining at this point.
yeah definitely. Go for altcoins with smaller cap. Ethereum & Bitcoin is not an optimum choice unless you have big budget to spent. Personally I got quite a nice ROI. I invested 2 GTX1070 mining a few altcoins and managed to breakeven at about 6 month mark.
If you are referring to bitcoin mining, not so much after factoring in the electricity cost, investment on mining rigs, the competition and maybe the rent to host your mining equipment. However, mining other altcoins might still be profitable especially for certain coins that have a great upside potential. The earnings might not be very significant or profitable now, but it might be in the near future.