I can agree to the "losing all your money" part but I will quickly add that it's not only in day trading that happens. It can also happen when you hodl or trade long term.
Agree on that, but I guess the OP seems to emphasize greed for day trading. Many people can make profits on day trading, while others also lose money. Nothing is always profitable, but if it's about losing all the money in the long term then I think something is wrong with the strategy.
What is key in trading is the skills (I keep going back to this).
Of course, skill and strategy will affect the outcome. Indeed, no one can always make a profit, but at least with skills and strategies they will not trade blindly without analysis.