Media coverage of iPhone application development (what? why is media even covering this?!) goes in a stereo-typical cyclical pattern that is almost weekly in its oscillation.  This week chiming in is the New York Times: Hoping to Make iPhone Toys as a Full-Time Job.

The Lede on this story sells the Gold Rush, no doubt leading young men West to dig in the dirt.

This article does point out the other side of the story briefly:

But the chances of hitting the iPhone jackpot keep getting slimmer: the Apple store is already crowded with look-alike games and kitschy applications, and fresh inventory keeps arriving daily.

But they quickly return and glorify the Get Ri¢h Story.  They return to 6-figure pronouncements and phrases like “minimal skill” and “only 7 days”.  It sounds like late-night hucksterism.

There are currently about 2000 apps released in the store per month.  Less than 1 a month is a get-rich-quick winner.  And those are usually gimmicks and one-offs.

There is a middle ground.  A reasonable expectations and reasonable skills balance.  But you won’t likely hear that story in the press.

I also wouldn’t be surprised if there were some big boys that back out of the arena in a year or two because of the dilution of perceived value.  They spend big bucks on game development and need to reap it back.

Of course, evolution in the hardware available is going to continue to change the landscape.