It does hinder your ability to participate in big battles like this and money making will be slower. But some people don't mind since they just want to be independent.
But you can run a small or even solo pirate operation, preying on lone travelers. Or run goods to dangerous markets in stealth transport ships. Or in a much much larger, much more expensive jump transport ship (just don't get ambushed!). Or start a manufacturing operation. Or for the truly hardcore (and really best done in small groups) go make a living in a wormhole for a month or two.
There are nearly countless things you can do solo or with a small group. The easiest way is to be part of a large alliance and have "safe" space to operate from - this does not, generally, mean you have to follow orders. Or you can operate in neutral space - everyone you see is a potential friend or enemy (more likely enemy). Or you can go deep into enemy space and play cat and mouse with an entire alliance for hours or days.
So... yes, I guess?