Most basic websites these days are made on blog style themes such as Wordpress.org
It doesn't matter if your content is on pages or posts... as long as it has good keywords and Google can find it.
(Some top SEO experts argue that pages hold more value than posts but this has yet to be proven.)
the difference in "blog" and "website" is very fuzzy.
It would be harder to make money on a true "web-log" but that isnt set in stone either.
They are pretty much synonymous these days.
It really depends what you mean by a blog. If you mean "blog" in the original sense, which was an online diary full of personal musings, events in your life, or articles on a variety of subjects, then that's definitely just an ego trip and won't make any money.
Both websites and blogs need to be focussed on a particular topic these days. The only real difference between them is that blog posts (usually) show a date of posting, and blogs are regularly updated - whereas websites may not be.
I have both blogs and websites, and they all make money, but the websites (with my own domains) make more money now than even hubs. If you have good content then you will be fine. Find a good profitable niche and you are going to do well.
It takes time to build a following for a new website and blog. The more you put into it, the more you potentially get out of it.
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