Profitable or unprofitable, it is very case specific and it is not always profitable for all people who buy dips. Buying dips is good but if the buyer does not plan to hold for a while or does not have plan of selling with price bounces for profit, he might miss some good opportunities for selling and taking profit. Then holding a longer time, but not long enough as a long term investment, market can dive deeper and selling at such times will lead to loss.

There are people who did not have any idea and plan for what to do next after buying dips, and got loss complained that dips are risky and not bring profit. They again did not do enough research and it's their responsibility again.

Many Bitcoin historical corrections from all time highs are great entries and helpful for many intelligent investors and traders to get profit, but most of people in the market had losses.