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I disagree. There's still money in the TGP game. Its all about knowing the right niche TGPs to submit to as well as designing your galleries to convert.
The greatest threat to submitters are the sponsor hosted galleries that threaten to cut submitters out of the game. I strongly think this is a mistake for TGP owners--they are cutting out the novelty of fresh content, text, and design by going with prefab galleries.
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I agree with this, I make most of my money by submitting galleries and there is plenty of money to be made, but only if the content is fresh and the designs are made to sell. Just throwing a bunch of pics and a banner on a page isn't going to sell shit.
And as far as hosted galleries go, more and more tgp's are filling up with them, taking away spots for submitters, but why shouldn't they. Might as well bring in the sales for yourself. And no big tgp is going to cut out submitters all together so, it once again comes down to making quality galleries to get listed.
So the only ones that are getting cut are the webmasters that make shit galleries, more listings for those of us with better pages. But hey, this is just my opinion...