It depends on the situation - and on the hubber in fact.
It can be a good money making scheme when the writer is good, writes quality and helpful hubs and the article is interesting for others.
On the other hand the writer won't earn a penny just because they write a hub everyday if the hubs are horrible, full of grammatical mistakes, lack pictures and are shorter than 4-500 words. Personally, I don't like hubs that are just personal statements and/or opinions about something. Reviews are good, but this is another category for me.
Also, I believe noone is able to write quality hubs and maintain this on the long run if they write 1 hub/day. It's just too much and I doubt someone has THAT much idea to share.