No. This right here is where you're way off.
Some hypothetical math: $3.99 app, $2.79 after Apple's cut.
$2.79 X 50 sales/day = $139.5 revune/day = $50,917 per year.
Enough to live and quite conservative if you make a quality product.
How long does it take to make a $3.99 app? Do you factor in those development costs?
If it's just one person and you make $50K, that's fine. But what if there's two of you?
What's the probability of getting 50 sales/day and for how long? In the event that you get, let's say 25 sales/day, what's your fallback strategy?
awolf, you may very well be selling hundreds of copies a day of your apps at 10 bucks a piece, but the point is that the vast majority don't.