If mining is so unprofitable...

Never been a miner or into that side of crypto, but see enough posts on here with the sentiment that mining is now very expensive (with some people saying that even with free electricity it's not worth it) which begs the question, if mining is so out of reach for an 'average person' - who is doing the mining?

For those actually mining, how are you making it work? or is this, like, miner fud?

To my mind, if mining ends up being in the hands of a smaller number of (relatively) specialized businesses that do mining, is that not a general risk vector as it is the opposite of decentralization?

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