While the industry as a whole makes a lot, the majority of individual anime and manga make next to nothing. It’s a few very popular properties that make all the dough. If people were paid fairly, most productions would be untenable. There would be just a few anime per year instead of many. But also, how would the popular ones come to be? Every new property would be a huge gamble. As an anime and manga fan, I actually…
This further reduces the budget of productions so that all kinds of junk can be produced at rock bottom prices and still have a chance at making money.
And let's be honest, the vast vast majority of anime is utter crap.
If things were different however, anime might end up as a more hit-driven industry the way Hollywood productions (or heck even startups) are.