1. The graph shows income, not profit.
Ok, subtract $2 (two dollars) a day for electricity.Oh, I already did it.
2. The graph shows income in dollars, not bitcoins.
So what?
3. Only people at the front of the pre-order list had any chance of making a profit.
Exactly it is.
1. The graph doesn't subtract the cost of the equipment from the income.
2. Showing income in dollars confuses the issue because there are two factors: mining and exchange rate. The real judge of mining profitability is to compare the amount of BTC you pay to the amount you mine. If you can buy bitcoins for less than it costs to mine them, then mining is unprofitable.
3. Implying that there was a time when everyone made a lot of money from mining is a little far from the truth that only a few lucky (or well-connected) people were able to show a profit for a few months.