It is. Let's check by two measures:
1. 160k people have bought and recieved FSD Beta at somewhere between $5 and $15k (today's price). Let's say an average of $8k, that means $1.28 billion. More have bought it but are waiting to get access.
2. FSD take rate is estimated as of now to be around 7% of vehicles sold world-wide. At the current price of $15k and the estimated 1.4 million vehicles sold this year, that amounts to $1.47 billion.
Numbers are rough estimates, 50% of revenue is held in reserve until FSD is out of beta, and many haven't received the beta yet, still by any measure they are making and will make billions. What you personally think of the product, or if you think Elon is a "snake oil salesman" is not really relevant.
To strong arm any counter argument, it's possible that all these buyers will realize it actually sucks/doesn't work, sue the company and the whole thing falls apart, but I don't see any indication of it. There are plenty of unhappy and happy customers with FSD, but they've clearly found something that people are willing to pay a lot for and many are happy with it. Clearly it needs to improve much further in order to sell this to the wider public beyond people who think it's fun to babysit an AI.