I don't think the profitability counter graph is accounting for HODL. I think if you are counting on cashing out for a revenue stream, then yes, it's reflective, and that's what a lot of the bigger miners are doing, because they have such large investment. Or a little guy with a few machines trying to make a little extra. I'm getting s9's to mine and hold. Buying 10k btc is a one way dead end street. Spend 10k on 2-3 s9's, put them in a spare room, pay the electric from my regular job, and in a couple years, let's see what btc price is. Years later when I calculate my profit I'll ignore my electric costs to make my profit look better to me