You forgot something.
Blocks reward.
1 year ago, ETH Block rewards is 4 ETH/Block.
But today, is decrease to 2 ETH/Block only.
And, 1 year ago, ETH Price is $1000, but today is only $250
But in spite of all this awful things people still mining ETH. May be they know something? Or may be they just are able to use a calculator? The last 3 years there were only about 5-6 months than all were happy. All another time someone mined and got profit and someone cried.
I don't know why, my opinion they are still mining is only 2 reasons.
1. Mining ETH and holding. They hope eth will rise maybe 2x or 3x in next month and sell it for profits.
2. They are still mining because electricity free