HubPages as an employment avenue is no more and no less risky than any other freelance job option that's out there.
You could choose to write here as your "job" but it's going to take just as much work as any full-time day job (or more) for several years to turn the money made into something approaching livable income... and that's just if you happen to be successful at your work.
As with all types of different freelance jobs, a small percentage of people who try "this job" are going to find they are good at it or already have the full skill set to become successful. Some will put in the time and effort to become skilled. But the majority will find that while they enjoy the work, it just doesn't become profitable.