There are very very very few situations where anyone will "rake in money" with sites like Project Wonderful. If you're a very specific type of site (have adverts in prime locations and have an audience that is visiting your site looking for something presented in the advertisements) you might make money, but otherwise PW and alternatives will make you a pittance.
Take a look at their top sites list... MS Paint Adventures (a super popular webcomic) has "3,671,690 Average Page Views
(past 5 days)" and costs $35 per day. $35 per day for 3.6 million page views?
The highest per day website on Project Wonderful is minecraftservers.org making $100 per day. That is not "raking it in" in any sense of the phrase.